 "Biocon gains on launching Insulin Glargine in Japan")
Biocon was trading higher by 3% at Rs 732 on the National Stock Exchange (NSE) after the company announced that its partner Fujifilm Pharma Co has launched insulin Glargine in Japan.
“The product is a ready-to-use, prefilled disposable pen with 3 ml of 100 IU insulin glargine. It will provide a high quality, yet affordable, world-class long-acting biosimilar basal Insulin Glargine for patients of diabetes in Japan,” Biocon said in a press release.
The company through its partner aims to capture significant share of the Japanese Glargine market of US $ 144 million, which is the second largest market outside of North America & Europe and is largely dominated by disposable pens, it added.
The biopharmaceutical company had received approval for the product from the Japanese regulator last quarter.
The stock hit a high of Rs 741 on the NSE in early morning trade. A combined 289,175 shares changed hands on the counter on the NSE and BSE till 09:27 AM.
“The product is a ready-to-use, prefilled disposable pen with 3 ml of 100 IU insulin glargine. It will provide a high quality, yet affordable, world-class long-acting biosimilar basal Insulin Glargine for patients of diabetes in Japan,” Biocon said in a press release.
The company through its partner aims to capture significant share of the Japanese Glargine market of US $ 144 million, which is the second largest market outside of North America & Europe and is largely dominated by disposable pens, it added.
The biopharmaceutical company had received approval for the product from the Japanese regulator last quarter.
The stock hit a high of Rs 741 on the NSE in early morning trade. A combined 289,175 shares changed hands on the counter on the NSE and BSE till 09:27 AM.