Page 3 - Biocon

Eris buys India formulation biz of Biocon Biologics for Rs 1,242 crore

The deal would enable Eris' entry into the Rs 3k cr injectables market, and it would become one of major players in the insulins segment with the acquisition of Biocon Biologic's Basalog and Insugen

Biocon to sell branded formulations biz to Eris Lifesciences for $150 mn

Biocon had earlier sold its dermatology and nephrology branded formulation businesses to Eris for Rs 350 crore in November last year

Biocon Biologics gets green light to launch Yesafili biosimilar in Canada

Under the agreement, Biocon Biologics will launch Yesafili no later than July 1, 2025. Health Canada had granted tentative approval for Yesafili in March 2023

Stocks to watch: Paytm, Tata Group, Airtel, Biocon, Suven, Vedanta, L&T

Stocks to watch on March 1, 2024: L&T has commissioned its first hydrogen electrolyser at the green hydrogen plant at Hazira, Gujarat

Biocon Biologics signs agreement with Janssen Biotech for psoriasis drug

Biocon said that the U.S. FDA has accepted the Biologics License Application (BLA) for Bmab 1200 (bUstekinumab) for review under the 351(k) pathway

Biocon receives a penalty of over Rs 3 crore in GST related issues

Biocon Ltd on Friday said it has been imposed a penalty of over Rs 3 crore over GST-related issues. The company has received an order of adjudication imposing a penalty of Rs 3,03,78,465 dated February 22, 2024, from the office of Deputy Commissioner of Commercial Taxes, Divisional GST Office, Bangalore, Biocon Ltd said in a regulatory filing. The demand is related to input tax credit reporting error in GST monthly returns, denial of input tax credit on sales and promotional expenditures, valuation issue GST under corporate guarantee, and denial of exemption on export of services, it added. Biocon further said it is "in the process of taking appropriate actions, including but not limited to, filing of the necessary appeal with the appellate authority in this regard". There is no material impact on the financials, operations or other activities of the company, the filing said.

In next 4-5 years, we aim capex of Rs 1,500 cr: Biocon's Siddharth Mittal

Siddharth Mittal outlines the growth strategies and challenges ahead

Biocon Biologics partners with Sandoz Australia to sell cancer drugs

The partnership will provide Sandoz the exclusive rights to promote, sell, and distribute biosimilar Trastuzumab and biosimilar Bevacizumab in Australia

Biocon inks pact with Sandoz for sale of 2 biosimilar products in Australia

Biocon Biologics on Friday said it has inked a five-year pact with pharmaceutical company Sandoz AG regarding the sale and distribution of two cancer treatment biosimilar products in Australia. The agreement provides Sandoz the exclusive rights to promote, sell and distribute biosimilars Trastuzumab and Bevacizumab in Australia, Biocon Biologics said in a statement. Biocon Biologics is a subsidiary of Biocon Ltd. Under the agreement, Sandoz will distribute the Biocon Biologics' brands, Ogivri (Trastuzumab) and Abevmy (Bevacizumab), and facilitate the sustained access of these medications that were previously distributed by another pharmaceutical company to patients in Australia. Trastuzumab is a biosimilar of Herceptin and Bevacizumab is a biosimilar of Avastin and utilised for the treatment of various cancers. "Following the recent establishment of our strategic partnership with Sandoz in Japan, our agreement with Sandoz in Australia marks another important milestone of our globa

Biocon Q3FY24 results: Net profit at Rs 660 crore, revenue up 50%

Biocon's overall growth was boosted by the conclusion of the transition of the acquired business by Biocon Biologics and pre-payment of $200 million towards the acquisition-related debt reduction

Biocon gets USFDA approval to market generic anti-cancer medication

Biocon Ltd on Tuesday said it has received approval from the US health regulator for a generic anti-cancer medication. The company has received approval from the US Food and Drug Administration (USFDA) for Dasatinib tablets to market in strengths of 20 mg, 50 mg, 70 mg, 80 mg, 100 mg, and 140 mg, Biocon said in a regulatory filing. The approval will further strengthen the company's portfolio of vertically integrated, complex drug products, it added. Shares of Biocon settled 4.97 per cent higher at Rs 298.75 apiece on the BSE.

Pharma sector can be of $200 bn by 2030 on innovative drugs: Biocon chief

Research-based incentives to develop innovative drugs can help the domestic pharmaceutical sector to be worth USD 200 billion by 2030, Biocon Executive Chairperson Kiran Mazumdar-Shaw said on Wednesday. Terming the pharmaceutical sector as a great contributor in the country's economic growth, she noted that the industry has even greater potential to grow in the years to come. "India's pharma industry size is estimated at about USD 65 billion today. And by 2030, it is expected to increase to USD 165 billion. Now, I believe it has a potential to even be greater and touch USD 200 billion by 2030," Mazumdar-Shaw told PTI. But such a level of growth cannot just be driven by generics and biosimilars, it has to involve drug innovation, she noted. "We have time to develop new drugs which could be blockbusters and I think what is required are research incentives to drive this kind of growth," Mazumdar-Shaw stated. The government has already come out with various research-linked incentive .

BSE 200 scorecard: From IGL to Zee, reading the tea leaves from FPI move

Krishna Kant and Ram Prasad Sahu track the investments made by foreign portfolio investors in BSE 200 companies - a move that is seen as pivotal to the future of a stock on bourses

Biocon arm, Sandoz to distribute rheumatoid arthritis drug in Japan

BBL launched Hulio, a biosimilar version of Abbvie's blockbuster drug Humira, in the US in July

Biocon Biologics completes integration of Viatris' biosimilars business

Biocon Biologics bought Viatris' global biosimilars business last year to become one of the top five global players in the space

Investing half a billion dollar in our generics business: Biocon MD & CEO

Debt-reduction plans are progressing a tad slowly, said Siddharth Mittal

Not evaluating any divestment options for API business, says Biocon

Biotechnology major Biocon on Friday said it is not evaluating divestment options for its API business. In a regulatory filing, Bengaluru-based company said it is "neither evaluating any divestment options for its API business nor consulting any bankers for this." The Active Pharmaceutical Ingredient (API) business is a strategic business segment of the company and a key growth driver for the company's small molecules business, a company spokesperson said. "Biocon continues to strengthen this business and has an ongoing investment of over half a billion dollars in capex and R&D," the filing said. The company has a strong pipeline of niche fermentation-based APIs, peptides and high potent API products for the near- and long-term growth of its integrated APIs and generic formulations business, it said. Biocon shares on Friday ended 1.25 per cent down at Rs 251.60 apiece on the BSE.

Biocon considers selling generic API biz; turn into biosimilar major

The generic API business has been one of the primary businesses for Biocon, however, in recent years, the segment's contribution towards the company's consolidated financials has declined

Biocon Biologics integrates Viatris' biosimilar biz in 31 European nations

Biocon Biologics on Thursday said it has completed the integration of the acquired biosimilar business from Viatris Inc in 31 European countries. Following the deal closure in November 2022, the company, a unit of Biocon Ltd, had earlier announced the integration of Viatris Inc's business in over 70 countries in emerging markets, effective July 1, 2023, and North America in September 2023. "The integration of the Viatris biosimilar business in Europe ahead of schedule is another important milestone for Biocon Biologics in our journey as a global biosimilar leader. We are pleased to expand access to lifesaving treatments for patients across Europe," Biocon Biologics CEO and MD Shreehas Tambe said in a statement. The pipeline of 20 products will allow the company to better address patient needs and be a reliable partner to health organisations, he added. Biocon Biologics and its partners will commercialise biosimilar products in various European countries like Albania, Austria, Belgi

Biocon biologics receives marketing approval by MHRA for YESAFILI in UK

This approval follows the green light granted by the European Commission (EC) for marketing authorisation in the European Union (EU) back in September