Biocon arm announces U.S. FDA approval for Jobevne

Biocon announces U.S. FDA approval for Jobevne.

Biocon subsidiary, Biocon Biologics, on Thursday announced the approval of its antibody Jobevne by the U.S. Food and Drug Administration (U.S. FDA).

Jobevne is humanized monoclonal antibody used to treat several different types of cancer, the company said in an exchange filing.

The FDA approval expands the company's portfolio in the United States, which also includes OGIVRI and FULPHILA. The company also markets Bevacizumab in Europe (approved February 2021) and Canada (approved November 2021) under the name ABEVMY.

Shreehas Tambe, CEO & Managing Director, Biocon Biologics Ltd., said: "The U.S. FDA approval is a significant milestone—our seventh biosimilar approved in the U.S. and a strong addition to our robust oncology portfolio. It underscores the depth of our scientific expertise and commitment to expanding access to high-quality, affordable biologics.

Shares of the company settled over 5 percent lower in Wednesday's trade at Rs 305.6 per share on the NSE.

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