Biocon gains on launching immunosuppressant in US
A fully-integrated biopharmaceutical company, Biocon Ltd informed that the company has launched Tacrolimus capsules in the United States (US). The announcement was made on Monday post trading session.
Tacrolimus is used in the treatment of patients with organ transplant. The capsule is an immunosuppressant, which reduces the body’s ability to reject a transplanted organ.
The company had received the approval from USFDA in the month of November 2020. The launch of Tacrolimus capsules expands Biocon’s generic formulation portfolio in the US.
Biocon is dedicated to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialised novel biologics, biosimilars, and complex small molecule APIs in India as well as several other key global markets.
On the revenue front, the company earns 30.1 per cent from the domestic market, 27.3 per from the US market and 42.6 from other markets.
At 10.15 am on Tuesday, its share was trading 0.26 per cent higher at Rs 467. It has recorded a 52-week high value of Rs 487.70 and a 52-week low value of Rs 235.80 on BSE.