Biocon rises as its arm secures approval from USFDA for Sacubitril/Valsartan Tablets
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Biocon is currently trading at Rs. 361.45, up by 2.15 points or 0.60% from its previous closing of Rs. 359.30 on the BSE.
The scrip opened at Rs. 367.50 and has touched a high and low of Rs. 368.00 and Rs. 359.00 respectively. So far 130805 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 376.75 on 26-Jul-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. 368.00 and Rs. 350.05 respectively. The current market cap of the company is Rs. 43281.63 crore.
The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 20.20% and 19.17% respectively.
Biocon’s wholly owned subsidiary -- Biocon Pharma has received approval of its ANDA for Sacubitril/Valsartan Tablets, in 24 mg/26 mg, 49 mg/51 mg and 97 mg/103 mg strengths, from the U.S Food and Drug Administration (USFDA).
Sacubitril and valsartan combination is used to treat chronic heart failure in adults to help reduce the risk of death and hospitalization. This medicine is also used to treat paediatric patients over the age of one year. The approval further adds to Biocon’s portfolio of vertically integrated, complex drug products.
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.
