Biocon blows its Trump(et), stock rises 3%
Shital Jibhe / 17 Feb 2017
Shares of Biocon advanced nearly 3 per cent in Friday’s trade after the Bangalore-based drugmaker informed that the US Food and Drug Administration (USFDA) has accepted Mylan’s Biologics License Application (BLA) for MYL-1401H, a proposed biosimilar to Neulasta (pegfilgrastim), an anti-cancer drug.
Shares of Biocon advanced nearly 3 per cent in Friday’s trade after the Bangalore-based drugmaker informed that the US Food and Drug Administration (USFDA) has accepted Mylan’s Biologics License Application (BLA) for MYL-1401H, a proposed biosimilar to Neulasta (pegfilgrastim), an anti-cancer drug.
Biocon Limited touched a high of Rs 1,123 per share, up by Rs 28.35 per share or 2.59 per cent on an intraday basis, while BSE Healthcare index is trading higher by 1.45 per cent.
Biocon Limited and Mylan are exclusive partners on a broad portfolio of biosimilars and generic insulin analogs. The proposed biosimilar pegfilgrastim is one of the six biologic products co-developed by Mylan and Biocon for the global marketplace.
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