Shares of Biocon Ltd surged 8% on 7 December after the company’s subsidiary, Biocon Biologics, announced approval from Japan’s Pharmaceuticals and Medical Devices Agency.
The approval for Ustekinumab BS, a subcutaneous biosimilar injectable to Stelara, by the regulatory body, marked a major step forward for the company.
The biosimilar will only be distributed in Japan by Biocon’s business partner, Yoshindo Inc. It was developed and manufactured in-house with the goal of treating psoriatic arthritis (PsA) and psoriasis vulgaris.
Biocon, one of the leading biotechnology companies globally, focuses on developing innovative biotechnology products and providing research services. Among the business segments under which the company operates are Biosimilars, Research Services, Generics, and Novel Biologics.
With a portfolio of 20 biosimilars spanning significant therapeutic categories like diabetes, immunology, and oncology, its biosimilars branch, Biocon Biologics, has a significant market presence in advanced markets. Furthermore, the company has a robust pipeline of over 20 chemicals that are anticipated to be commercialized by 2030.
Syngene, its research services branch, is a separate business that offers comprehensive manufacturing, research, and development services to a variety of industries, such as pharmaceuticals, consumer goods, and biotechnology.
The generics section of the company specializes in the production of active pharmaceutical ingredients (APIs) and has over 50 items, including high-potency chemicals. Biocon has made strides in the development of novel biologics with the introduction of Nimotuzumab, the first monoclonal antibody produced in India, and Itolizumab, which is used to treat psoriasis.
The company is expanding its manufacturing capacity globally with the recent acquisition of an oral solid dosage facility in the US and a biologics manufacturing plant through Syngene.
At 12:00 pm, the shares of Biocon were trading 8.35% higher at Rs 388 on NSE.
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