Biocon shines as its arm inks pact with Libbs Farmaceutica
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Biocon is currently trading at Rs. 400.40, up by 5.15 points or 1.30% from its previous closing of Rs. 395.25 on the BSE.
The scrip opened at Rs. 400.00 and has touched a high and low of Rs. 402.25 and Rs. 399.40 respectively. So far 11135 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. 268.20 on 31-Mar-2020.
Last one week high and low of the scrip stood at Rs. 405.60 and Rs. 390.65 respectively. The current market cap of the company is Rs. 47430.00 crore.
The promoters holding in the company stood at 60.67%, while Institutions and Non-Institutions held 23.68% and 15.65% respectively.
Biocon’s subsidiary -- Biocon Pharma has joined hands with Libbs Farmaceutica to launch generic drugs in Brazil, the world's sixth most populous country. This partnership, which marks the entry of Biocon's generic formulations into Latin America, builds upon a successful association with Libbs, which began in 2017 to launch biosimilar Trastuzumab in Brazil.
As part of the out-licensing deal with Libbs, Biocon Pharma will be responsible for drug development and manufacturing, while Libbs will leverage its deep expertise and reach in Brazil to import, distribute and market, subject to approvals from the Brazilian health regulatory agency, ANVISA.
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.
