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Biocon announced the launch of its GLP-1 peptide, Liraglutide, for diabetes (gVictoza®) and obesity (gSaxenda®), in the Netherlands through its distribution partner Pharmamedic B.V. The drug-device combination will be marketed in the Netherlands under the brand names Diavorin® for diabetes and Vobexoryn® for chronic weight management.
The launch follows the approval from the Medicines Evaluation Board (MEB), Netherlands, earlier this year and will mark the first country in the European Union where the Company will directly launch Liraglutide under its own brand.
The drug-device combination will be marketed in the Netherlands under the brand names Diavorin for diabetes and Vobexoryn for chronic weight management.
Siddharth Mittal, chief executive officer and managing director, Biocon, said: “The launch of Liraglutide in the Netherlands marks a significant milestone in expanding Biocon’s GLP-1 portfolio across key global markets, and reinforces the strategic importance of peptide-based therapies within our portfolio.
With our vertically integrated, end-to-end capabilities, we are uniquely positioned to deliver high-quality, affordable metabolic treatments at scale. Launching Diavorin and Vobexoryn under our own brand in Europe reflects not only our scientific and manufacturing excellence, but also our long-standing commitment to broadening access to advanced therapies for diabetes and obesity.'
Biocon is a global biopharma company dedicated to improving affordable access to therapies for chronic conditions such as diabetes, cancer, and autoimmune diseases.
On a consolidated basis, Biocon reported net profit of Rs 84.50 crore in Q2 September 2025 as against net loss of Rs 16 crore in Q2 September 2024. Net sales rose 20.24% YoY to Rs 4262.50 crore in Q2 September 2025.
The scrip shed 0.21% to currently trade at Rs 385.85 on the BSE.
The agreement clears the way for Biocon Biologics to commercialize Yesafili globally. Yesafili is a vascular endothelial growth factor (VEGF) inhibitor used to treat multiple ophthalmology conditions, including neovascular (wet AMD) age-related macular degeneration, visual impairment due to macular oedema secondary to retinal vein occlusion (branch RVO or central RVO), diabetic macular oedema (DME), and myopic choroidal neovascularisation (myopic CNV).
As part of the agreement, all pending litigation among Biocon Biologics, Regeneron, and Bayer has been dismissed. Biocon Biologics plans to launch Yesafili in the United Kingdom in January 2026, followed by launches in other settled countries in March 2026, or earlier in certain circumstances. The other terms of the settlement remain confidential.
The European Commission (EC) and the Medicines & Healthcare products Regulatory Agency (MHRA) have previously approved YESAFILI.
Yesafili has already received approval from the European Commission (EC) and the UK Medicines & Healthcare products Regulatory Agency (MHRA). Biocon Biologics had earlier secured market entry for the U.S. in April 2025, targeting the second half of calendar year 2026, and launched the product in Canada earlier this year, with market entry secured in March 2024.
Shreehas Tambe, CEO & managing director, Biocon Biologics, said, “This settlement paves the way for Biocon Biologics to make available our biosimilar Aflibercept globally. This milestone expands our presence in the ophthalmology therapeutic area as we work closely with healthcare systems to increase access to patients everywhere.”
The counter added 1.34% to currently trade at Rs 386.65 on the BSE.
Biocon announced a strategic corporate action to fully integrate Biocon Biologics (BBL) as a wholly owned subsidiary into Biocon, subject to applicable approvals.
The Strategy Committee, constituted in May 2025, undertook a comprehensive evaluation of multiple strategic options for Biocon Biologics, including an IPO and a merger with Biocon. After careful consideration of key parameters such as strategic alignment, sectoral dynamics, shareholder value creation, and other relevant data, the Committee concluded that full integration of Biocon Biologics with Biocon and making Biocon Biologics a wholly owned subsidiary of Biocon through the acquisition of minority stakes offers the most efficient and value-accretive path forward.
Under the proposed transaction,
A) Biocon will acquire the remaining stake in Biocon Biologics from Serum Institute Life Sciences (Serum), Tata Capital Growth Fund II (Tata Capital) and Activ Pine LLP (Activ Pine) through a share swap of 70.28 Biocon shares for every 100 Biocon Biologics shares, at a share price of INR 405.78 per Biocon share; valuing Biocon Biologics at USD 5.5 billion.
B) Further, Biocon will acquire the residual stake held by Mylan Inc. (Viatris) for a total consideration of USD 815 million, of which USD 400 million will be payable in cash and USD 415 million through a share swap of 61.70 Biocon shares for every 100 Biocon Biologics shares at a share price of INR 405.78 per Biocon share.
C) The swap ratios have been approved by the Board based on independent valuations by EY.
The Board has also approved raising additional capital, of up to Rs 4500 crore (USD 500 million) through Qualified Institutional Placement (QIP), subject to shareholder approval. The proceeds of the QIP will be largely utilised towards the cash component payable to Viatris.
The integration process is expected to be completed no later than 31 March 2026.
Siddharth Mittal and Shreehas Tambe will continue in their roles as CEO & Managing Director at Biocon and Biocon Biologics, respectively, until completion of the integration process.
Post the integration and upon execution of the necessary documentation, receipt of approvals from the Nomination & Remuneration Committee and the Board, Shreehas Tambe will take on the role of CEO & Managing Director and Kedar Upadhye the role of Chief Financial Officer of the combined business. Siddharth Mittal, CEO & Managing Director, Biocon, will transition into a leadership role within the Group.
Commenting on the corporate action, Kiran Mazumdar-Shaw, Executive Chairperson, Biocon, said: “The integration of Biocon Biologics Limited into Biocon Limited represents the next chapter in our evolution. Strategically, Biocon will be one of the few companies offering both biosimilars and generics at a global scale. As the only company with biosimilar insulins and generic GLP1 peptides, Biocon is uniquely positioned to comprehensively address the needs of patients living with diabetes. Together with our combined oncology and immunology portfolios, this creates a differentiated offering addressing the world's most pressing healthcare needs. I am also pleased to announce that Shreehas Tambe will lead the Transition and Integration Management Committee and will take over as the CEO & Managing Director of the combined business, subject to requisite approvals. His 28 years of experience with the Biocon Group will be invaluable as we advance our mission to make lifesaving medicines affordable and accessible to patients worldwide.”
The fund raising could also be done through issue of equity shares or any other eligible securities, through one or more permissible modes including but not limited to qualified institutions placement, rights issue, preferential issue and further public offer etc., in one or more tranches.
The company’s board will also consider a proposal for investment in Biocon Biologics (BBL), an unlisted material subsidiary of the company, by way of purchase or acquisition of securities from shareholders of BBL, for cash and/or consideration other than cash through issuance and allotment of fully paid-up equity shares of the company on a preferential allotment basis through private placement.
The scrip fell 4.68% to currently trade at Rs 390.95 on the BSE.
IT, realty and auto shares advanced while media, consumer durables and private bank shares declined.
As per provisional closing data, the barometer index, the S&P BSE Sensex advanced 158.51 points or 0.19% to 85,265.32. The Nifty 50 index added 47.75 points or 0.18% to 26,033.75. In the past four trading sessions, the Nifty and Sensex declined 0.88% and 0.72%, respectively.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.19% and the S&P BSE Small-Cap index fell 0.32%.
The market breadth was negative. On the BSE, 1,804 shares rose and 2,314 shares fell. A total of 193 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, fell 3.52% to 10.82.
Fitch Ratings Upgrade:
Fitch Ratings revised India’s GDP growth forecast for FY26 to 7.4%, from 6.9% projected earlier. Fitch says the growth reflects solid real income gains, buoyant consumer sentiment and the impact of recent GST reforms.
The agency expects growth to moderate to 6.4% in FY27 as the economy moves closer to its potential, with domestic demand, especially consumer spending, remaining the primary engine. Public investment is seen slowing, while private investment is expected to pick up in the latter half of FY27 as financial conditions ease.
Fitch also flagged external vulnerabilities, noting that India faces an effective tariff rate of around 35% on its exports to the US, one of the highest among major economies. Any trade agreement to reduce this burden would help lift external demand, the agency said.
IPO Update:
Meesho received bids for 1,69,68,37,950 shares as against 27,79,38,446 shares on offer, according to stock exchange data at 15:27 IST on Thursday (4 December 2025). The issue was subscribed 6.11 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 105 and 111 per share.
Aequs received bids for 41,31,55,560 shares as against 4,20,26,913 shares on offer, according to stock exchange data at 15:27 IST on Thursday (4 December 2025). The issue was subscribed 9.83 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 118 and 124 per share.
Vidya Wires received bids for 31,96,26,720 shares as against 4,33,34,009 shares on offer, according to stock exchange data at 15:27 IST on Thursday (4 December 2025). The issue was subscribed 7.38 times. The issue opened for bidding on 3 December 2025 and it will close on 5 December 2025. The price band of the IPO is fixed between Rs 48 and 52 per share.
Buzzing Index:
The Nifty IT index added 1.41% to 38,360.25, extending its gains to 2.18% over the past two sessions.
Coforge (up 2.9%), Persistent Systems (up 2.02%), LTIMindtree (up 1.81%), Mphasis (up 1.7%), Tata Consultancy Services (up 1.61%), Oracle Financial Services Software (up 1.5%), Tech Mahindra (up 1.37%), Infosys (up 1.25%), Wipro (up 0.89%) and HCL Technologies (up 0.88%) advanced.
Stocks in Spotlight:
Pine Labs shed 0.24%. The company has reported a net profit of Rs 6 crore in Q2 FY26 as against a net loss of Rs 32 crore posted in Q2 FY25. Revenue from operations grew 18% YoY to Rs 650 crore, on the back of robust growth of issuing, affordability and online payments businesses, which continue to outpace growth in the in-store payments business, in line with the company’s growth strategies.
Biocon declined 5.49%. The company said that its board will meet on Saturday, 06 December 2025, to consider a proposal for raising of funds by way of issuance of commercial paper through private placement.
Petronet LNG climbed 4.48% after the company announced a long-term agreement with ONGC for developing and operating ethane import and handling infrastructure at Dahej.
Mukka Proteins added 1.55% after the company announced that its joint venture (JV) with Hardik Gowda and MS Jathin Infra secured a Rs 474.89 crore contract from Bengaluru Solid Waste Management (BSWML).
Josts Engineering Company rallied 4.72% after the company announced that it has bagged an order worth Rs 5.62 crore from the North Bihar Power Distribution Company.
Pace Digitek shed 0.47%. The company said that its material subsidiary, Lineage Power, has secured an order worth Rs 99.71 crore from Advait Greenergy for the supply of lithium iron phosphate (LFP) battery energy storage systems (BESS) and related equipment.
Rail Vikas Nigam (RVNL) rose 0.26%. The company announced that it has received a letter of acceptance (LoA) worth Rs 145.35 crore from Southern Railway for a traction power project. The scope includes design, supply, erection, testing, and commissioning of Scott-connected traction substations, power quality equipment, switching posts, a 2x25 kV feeding system, and SCADA and automatic fault locator systems in the Jolarpettai–Salem section of the Salem Division.
Lupin rose 0.25%. The company announced that it has entered into an exclusive licensing agreement with U.S.-based biosimilar specialist Valorum Biologics for its biosimilar Armlupeg (pegfilgrastim-unne).
Under the terms of the agreement, Valorum will handle the commercialization and distribution of Armlupeg in the United States, while Lupin will be responsible for manufacturing and supplying the product. Lupin will receive an upfront license fee along with royalty payments on net sales.
Global Market:
European shares advanced while most Asian markets ended higher after Wall Street gained on the latest jobs data that raised hopes the Federal Reserve could cut interest rates next week.
Payroll processor ADP reported that private companies cut 32,000 workers in November, compared with 47,000 additions in October, and well below the 40,000 increase that was widely reported.
Markets are reportedly pricing in an 89% chance of a cut when the Federal Reserve meets on Dec. 9-10, significantly higher than rate-cut bets just a couple of weeks ago.
Overnight, the Dow Jones Industrial Average gained 408.44 points, or 0.86%, to finish at 47,882.90. The S&P 500 traded up 0.30% to end the day at 6,849.72, while the Nasdaq Composite added 0.17% to settle at 23,454.09.
Stocks with exposure to the artificial intelligence trade were the biggest drag on U.S. key benchmarks Wednesday stateside, after a media report stated that Microsoft was cutting software sales quotas tied to artificial intelligence.
Microsoft reportedly refuted the claims in the report, which led the stock to recover slightly in after-hours trading.
The broker trimmed valuation multiples across key business segments. The biosimilars business multiple was cut to 14x EBITDA from 20x, citing deteriorating market conditions and evolving USFDA guidelines. The generics division multiple was reduced to 14x from 16x due to weaker margins.
The brokerage acknowledged Biocon's strong global position in biosimilar R&D and execution, but warned that pricing pressure and an increasingly crowded competitive pipeline may hold back sales and keep earnings below earlier expectations.