Biocon gains as subsidiary signs deal for biosimilar asset

Biocon’s wholly owned subsidiary, Biocon Biologics and Evotec’s wholly owned subsidiary, Just - Evotec Biologics have entered into a strategic licensing agreement for an early-stage, pre-clinical bio-similar asset. The shares of Biocon gained nearly 2 per cent intraday on Friday.

Biocon Biologics will take this bio-similar asset through end-to-end development, IND filing, manufacturing and commercialization post-regulatory approval, under its own label in global markets. The WOS aims to address the needs of a large patient pool through this differentiated therapy. Through this in-licensing deal, the company has expanded its current therapeutic basket of biosimilars by going beyond diabetes, oncology and immunology.

Biocon is India’s leading biotechnology company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.

The shares of Biocon on Friday opened at Rs. 242.00 as against Friday’s close of Rs. 240.00. At 11:57 hours, the stock was trading at Rs. 243.55, up 1.23 per cent from its previous close. The stock hit an intraday high of Rs. 245.00 and intraday low was Rs. 239.50. Its 52-week high was Rs. 341.50 and 52-week low was Rs. 211.30 per share on the BSE.