Biocon shares rise 4% after US FDA approves Yesintek

Biocon Ltd

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26 Aug, 2025 12:21

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Shares of Biocon rose over 4 percent after the U.S. FDA approved Biocon Biologics' Yesintek, a biosimilar to J&J's Stelara.

At 12:10 PM, Biocon shares were trading 3 percent higher at Rs 375. The stock has gained 47 percent year-to-date, significantly outperforming the Nifty 50, which has risen 11 percent during the same period. Today marked the seventh consecutive session of gains for Biocon.

Yesintek, a monoclonal antibody, is approved for the treatment of Crohn's disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis.

Biocon Biologics had previously notified the Stock Exchange on February 29, that the company had entered into a settlement and licensing agreement with Janssen Biotech Inc, Janssen Sciences Ireland, and Johnson & Johnson (collectively known as Janssen) to commercialise Yesintek in the US no later than February 22, 2025, upon approval from the U.S. FDA.

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Biocon is involved in the manufacturing of biotechnology products and research services.

On October 30, Biocon reported an 84 percent year-on-year (YoY) decline in net profit to Rs 27 crore for the quarter ended September, compared to Rs 172 crore in the same period last fiscal year. The company's revenue from operations increased by almost 4 percent to Rs 3,590 crore, up from Rs 3,462 crore in Q2 of FY24.

At the operating level, EBITDA declined 7.6 percent year-on-year to Rs 685.5 crore in Q2 FY25, compared to Rs 741.3 crore in the same period last year. The EBITDA margin narrowed to 19.1 percent from 21 percent in Q2 FY24.

Biocon Biologics reported Q2 revenue of Rs 2,182 crore, marking a 19 percent year-on-year growth.

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