Biocon jumps on launching Everolimus tablets in US
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Biocon is currently trading at Rs. 369.85, up by 4.70 points or 1.29% from its previous closing of Rs. 365.15 on the BSE.
The scrip opened at Rs. 368.50 and has touched a high and low of Rs. 370.40 and Rs. 366.90 respectively. So far 29483 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 487.70 on 23-Dec-2020 and a 52 week low of Rs. 327.75 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 370.40 and Rs. 352.75 respectively. The current market cap of the company is Rs. 44218.10 crore.
The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 23.43% and 15.93% respectively.
Biocon has launched Everolimus tablets, a generic version of Afinitor, in the US. Everolimus tablets have been introduced in four strengths of 2.5mg, 5mg, 7.5mg and 10mg, with the 10 mg tablet being a ‘day-1’ generic launch. Everolimus (Afinitor) is a prescription medication that is used to treat certain types of cancers and tumours.
The commercial launch of Everolimus follows an US FDA approval in February 2021. US sales of Everolimus (Afinitor) tablets of 2.5mg, 5mg, 7.5mg, and 10mg strengths were around $675 million in the 12 months ending July 2021. Afinitor is a registered trademark of Novartis AG.
Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.
