Biocon shares up 6% after Co launches insulin glargine in US market

Shares of Biocon rallied 6 per cent to Rs 397 on the BSE on Tuesday after the company’s subsidiary Biocon Biologics India and its partner Mylan N.V. launched insulin glargine injection under the brand Semglee in the US market.

Biocon Biologics India and Mylan have launched the product in vial and pre-filled pen presentations in the US. It is approved to help control high blood sugar in adult and pediatric patients with type-1 diabetes and adults with type-2 diabetes, Biocon subsidiary said in a press release. 

Semglee, which received final approval from the US Food and Drug Administration (FDA),