Biocon share price rises 4% on USFDA approval
Biocon Biology is uniquely position as a fully integrated pure play biosimilars organisation in the world.
November 27, 2019 / 09:44 AM IST
Biocon share price rose 4.5 percent in early trade on November 27 after the company received USFDA approval.
The company and Mylan's supplemental biologics license application (sBLA) for Pegfilgrastim drug substance to be manufactured at Biocon's manufacturing facility has been approved by the United States Food and Drug Administration (USFDA).
This additional approval of its new manufacturing facility for Pegfilgrastim in Bengaluru will enable Biocon biologics, a subsidiary of Biocon and Mylan to scale of capacity multifold and address the growing market opportunities in the US and other global markets.
The USFDA had conducted a pre-approval inspection of this new drug substance manufacturing facility from September 10 to September 19, 2019
Biocon Biology is uniquely positioned as a fully integrated pure-play biosimilars organisation in the world.
At 09:20 hrs, Biocon was quoting at Rs 274.45, up Rs 10.15, or 3.84 percent on the BSE.