Biocon advanced 2% to Rs 407.95 after the company's subsidiary, Biocon Pharma, received an approval of its Abbreviated New Drug Application (ANDA) for Posaconazole Delayed-Release tablets from the US-based drug regulatory body, USFDA.
The product, Posaconazole Delayed-Release tablets, is indicated for use in the prevention of certain fungal infections in patients with severely weakened immune systems and is available in 100 mg strength. This approval would further add to Biocon's portfolio of vertically integrated complex drug products.
Biocon's consolidated net profit jumped 17.68% to Rs 219.60 crore on a 17.05% surge in revenue from operations to Rs 2,174.20 crore in Q3 FY22 over Q3 FY21.
Biocon is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune.
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