Triggers falling into place for Biocon

May start monetising its biosimilars by FY19, 30-40% jump in profit likely

The positive news regarding Biocon’s biosimilars programme has infused a fresh feeling in the stock, reacting to which it hit a lifetime high on Friday.

Biocon has received approval from the European Medicines Agency for its marketing authorisation application for oncology biosimilars trastuzumab and pegfilgrastim.

The Street’s sentiment, positive since the start of 2016 on expected monetisation of biosimilars, and which had hit a pause due to regulatory hiccups in mid-2017, seems to have changed now.

The product applications earlier had been withdrawn by Biocon following an audit conducted by the European inspecting authority of the firm’s facilities that resulted in certain observations