Biocon soars as its arm secures multiple market access agreements for Yesintek
Biocon is currently trading at Rs. 331.75, up by 13.10 points or 4.11% from its previous closing of Rs. 318.65 on the BSE.
The scrip opened at Rs. 324.70 and has touched a high and low of Rs. 331.85 and Rs. 322.65 respectively. So far 36053 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. 332.25 and Rs. 313.05 respectively. The current market cap of the company is Rs. 39097.54 crore.
The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 21.38% and 17.97% respectively.
Biocon’s subsidiary -- Biocon Biologics has secured multiple market access agreements for Yesintek (ustekinumab-kfce), its biosimilar to Stelara (ustekinumab). The market access agreements from numerous plans represent over 100+ million lives in the United States.
Express Scripts has added YESINTEK to the National Preferred Formulary (NPF) effective March 21, 2025. Cigna has added YESINTEK to its commercial formulary beginning on March 21, 2025. UnitedHealthcare has added YESINTEK to several formularies including commercial beginning May 1, 2025; managed Medicaid beginning March 1, 2025; and Medicare beginning June 1, 2025. CVS Health has added YESINTEK beginning July 1, 2025. And finally, Optum Rx has added YESINTEK to its Premium and Select formularies beginning July 1, 2025.
YESINTEK has also been selected on several other formularies, including Navitus, Costco Health Solutions, MedImpact, Priority Health, University of Pittsburgh Medical Center (UPMC), and several other regional health plans. Additionally, YESINTEK has been selected as the exclusive Ustekinumab by Blue Cross Blue Shield of Michigan (BCBSM), Florida Healthcare Plan, and several closed-door health systems. The company is also finalizing formulary agreements with other commercial carriers.
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.
