Biocon rises on getting approval for diabetes drug Liraglutide in India
Biocon is currently trading at Rs. 337.75, up by 3.70 points or 1.11% from its previous closing of Rs. 334.05 on the BSE.
The scrip opened at Rs. 340.25 and has touched a high and low of Rs. 340.25 and Rs. 334.60 respectively. So far 114379 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 404.60 on 21-Jan-2025 and a 52 week low of Rs. 270.00 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 340.25 and Rs. 330.80 respectively. The current market cap of the company is Rs. 40490.24 crore.
The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 21.38% and 17.97% respectively.
Biocon has received approval in India for its Liraglutide drug substance, and its wholly owned subsidiary -- Biocon Pharma, has received approval for its Liraglutide drug product (6 mg/ml solution for injection in pre-filled pen and cartridge), from the Drugs Controller General of India, CDSCO (Central Drugs Standard Control Organisation).
The approval is for the generic version of Victoza, indicated for the treatment of insufficiently controlled Type 2 Diabetes Mellitus in adults, adolescents and children aged 10 years and above, as an adjunct to diet and exercise. The approval was received from the CDSCO under the recently formulated 101 route that enables recognition of approvals granted by established and referenced serious regulatory authorities.
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.
