Biocon rallies after Delhi HC gives nod for sale of cancer drug
Bhagyashree Vivarekar / 03 Mar 2017
Biocon and Mylan on Friday got approval from the Delhi High Court to sell the biosimilar drug Trastuzumab for treatment of early breast cancer and metastatic gastric cancer. Biocon and Mylan were facing challenge from Roche against sale of the drug.
Biocon and Mylan on Friday got approval from the Delhi High Court to sell the biosimilar drug Trastuzumab for treatment of early breast cancer and metastatic gastric cancer. Biocon and Mylan were facing challenge from Roche against sale of the drug.
Roche through an interim court order had challenged Biocon and Mylan against sale of the drug for three indications, namely, metastatic breast cancer, early breast cancer and gastric cancer. Roche had submitted that Biocon had failed to follow protocol and not conducted tests and was selling drug under the name Trastuzumab, claiming to be innovator of the drug.
In an earlier hearing, the court had said that Roche cannot have say against the production and marketing of breast cancer medicines of Biocon and Mylan once the Drug Controller General of India (DGCI) had approved it.
After the clearance from the court, Biocon rallied 6 per cent to the day's high of Rs 1087.50 after opening at Rs1022. The stock closed at Rs 1072, up by 3.76 per cent.
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