Biocon rises as its arm gets USFDA`s nod for Yesafili
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Biocon is currently trading at Rs. 306.40, up by 1.70 points or 0.56% from its previous closing of Rs. 304.70 on the BSE.
The scrip opened at Rs. 307.80 and has touched a high and low of Rs. 310.35 and Rs. 304.10 respectively. So far 93310 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 321.30 on 15-May-2024 and a 52 week low of Rs. 217.50 on 31-Oct-2023.
Last one week high and low of the scrip stood at Rs. 321.30 and Rs. 293.55 respectively. The current market cap of the company is Rs. 36582.28 crore.
The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 19.31% and 20.05% respectively.
Biocon’s subsidiary -- Biocon Biologics has received U.S. Food and Drug Administration’s (USFDA) approval for Yesafili (aflibercept-jbvf), an interchangeable biosimilar aflibercept. YESAFILI, a vascular endothelial growth factor (VEGF) inhibitor used to treat several different types of ophthalmology conditions, is a biosimilar of its reference product EYLEA (aflibercept).
YESAFILI is intended for the treatment of neovascular (wet AMD) age-related macular degeneration, visual impairment due to macular oedema secondary to retinal vein occlusion (branch RVO or central RVO), visual impairment due to diabetic macular oedema (DME) and visual impairment due to myopic choroidal neovascularisation (myopic CNV). It is highly similar to the reference product Eylea (aflibercept).
The approval of YESAFILI marks Biocon Biologics’ expansion into the ophthalmology therapeutic area in the United States following a steady track record of approval in Europe (September 2023) and the United Kingdom (November 2023) where it was the first biosimilar aflibercept to be approved. The Company has secured a launch date in Canada of no later than July 1, 2025, under the terms of a settlement agreement.
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.
