Shares of Biocon Ltd. are trading flat after reaching a day’s high of Rs 364.95 on 29th August. This follows the company’s announcement that its subsidiary, Biocon Biologics, has signed a settlement agreement with Janssen Biotech Inc., Janssen Sciences Ireland, and Johnson & Johnson—collectively known as Janssen—to commercialise its proposed biosimilar Bmab 1200, a counterpart to Stelara (Ustekinumab), in Europe, the United Kingdom, Canada, and Japan.

Biocon Biologics has settled patent disputes with Janssen, ensuring market entry dates for Bmab 1200 in the mentioned regions.

Regulatory filings for Bmab 1200 are under review in these markets.

It was pointed out by Shreehas Tambe, the CEO of Biocon Biologics, that the settlement is a significant advancement and adds value to their immunology portfolio.

Bmab 1200 is developed with the intention of cost-effectively managing autoimmune diseases.
Stelara (Ustekinumab) is a monoclonal antibody against IL-12/23, which is relevant in diseases such as psoriasis and Crohn’s disease. In 2023, the sales of Stelara reached $10.85 billion worldwide, according to Johnson & Johnson.

Biocon Biologics has secured a settlement in the US for Bmab 1200 to launch by 22nd February 2025, pending FDA approval.

The FDA has accepted the biologics license application (BLA) for Bmab 1200 under the 351(k) biosimilar pathway.

The company’s net profit surged by 550.59% year-over-year to Rs 659.7 crore for Q1 ending 30th June 2024, up from Rs 101.4 crore in the same quarter last year.

Revenue from operations increased slightly by 0.3% to Rs 3,432.9 crore, compared to Rs 3,422.6 crore in the previous year.

At 12:40 PM, the shares of Biocon Ltd. were trading 0.62% lower at Rs 354.50 on NSE.

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