Biocon Pharma, a wholly owned subsidiary of Biocon, has received approval of its ANDA for Sacubitril/Valsartan Tablets, from the U.S Food and Drug Administration (US FDA).
Sacubitril and valsartan combination is used to treat chronic heart failure in adults to help reduce the risk of death and hospitalization. This medicine is also used to treat paediatric patients over the age of one year.Biocon stated that the approval further adds to its portfolio of vertically integrated, complex drug products.
Biocon is an innovation led global biopharmaceuticals company, engaged in the production of therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development.
The companys conosldidated net profit surged to Rs 659.7 crore in Q1 FY25 as compared with Rs 101.4 crore in Q1 FY24. Revenue from operations increased marginally year on year to Rs 3,432.9 crore in during the quarter.
The scrip rose 1.14% to close at Rs 359.30 on Friday, 30 August 2024.
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