Biocon Biologics & Viatris receive nod for Kixelle-biosimilar insulin Aspart from EC

Biocon Biologics Ltd, a subsidiary of Biocon Ltd has announced that Kixelle, a biosimilar Insulin Aspart co-developed with Viatris Inc has received marketing authorisation approval from European Commission. The authorisation granted by EC is valid in all the EU member states. 

Kixelle is a fast-acting insulin analogue prescribed for the treatment of diabetes mellitus in adults, adolescents, and children of age 1 year & above. 

The company’s stock today increased by 1.12 per cent and made an intraday high of Rs 411.30 per share at 9.19 am. 

Besides, the company reported a net profit of Rs 33 crore in Q3FY21, a decrease of 72.66 per cent. It had reported a profit of Rs 120.70 crore in Q3FY20. The company reported net sales of Rs 456.10 crore for Q3FY21, a decrease of 9.02 per cent as against the net sales of Rs 501.30 crore for Q3FY20. 

According to BSE data, the stock traded at a P/E multiple of 154.95 and a price-to-book ratio of 6.28. The stock has a 52-week high and a 52-week low of Rs 487.70 and Rs 235.80, respectively. 

On Friday, the stock of Biocon Ltd ended at Rs 407.05, up by 0.07 per cent on BSE.