Biocon Ltd Share Price – NSE  /  BSE

Pharmaceuticals, Small Cap

This approval will provide significant additional capacity to address patients’ needs across markets in Europe. The facility has previously been approved to manufacture biosimilar Trastuzumab in September 2022.

The company further informed that the EMA has renewed its good manufacturing practice (GMP) certificates of compliance for its biosimilars manufacturing facility at Bengaluru and its insulin facility in Malaysia following routine GMP inspections. These certificates were issued by the Health Products Regulatory Authority (HPRA), Ireland, on behalf of EMA.

These GMP certifications across our manufacturing sites in India and Malaysia reflect Biocon Biologics’ continued compliance with the highest standards of quality and our unwavering commitment to addressing patient needs globally,” Biocon’s spokesperson said in a statement.

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 company had reported 56.74% decline in consolidated net profit to Rs 135.5 crore despite of 3.79% rise in revenue from operations to Rs 3,917.1 crore in Q4 FY24 over Q4 FY23.

The scrip shed 0.67% to currently trade at Rs 343.30 on the BSE.

Powered by Capital Market - Live News

The good manufacturing practices was conducted on 14 June 2024 and closed the inspection with three observations. The company said that it will respond to the USFDA within the stipulated timeframe.

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 company had reported 56.74% decline in consolidated net profit to Rs 135.5 crore despite of 3.79% rise in revenue from operations to Rs 3,917.1 crore in Q4 FY24 over Q4 FY23.

The scrip fell 1.06% to end at Rs 334.65 on Friday, 15 June 2024.

Powered by Capital Market - Live News

Biocon has approved the appointment of Mukesh Kamath, Head - Business Finance R&D, as the Interim Chief Financial Officer and Key Managerial Personnel of the Company with effect from 11 June 2024 till the time new CFO is appointed by the Board.

Powered by Capital Market - Live News

Biocon Ltd gained for a fifth straight session today. The stock is quoting at Rs 347.55, up 2.25% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.34% on the day, quoting at 23337.55. The Sensex is at 76691.49, up 0.26%. Biocon Ltd has risen around 15.22% in last one month.

Meanwhile, Nifty Pharma index of which Biocon Ltd is a constituent, has risen around 4.56% in last one month and is currently quoting at 19774.7, up 0.14% on the day. The volume in the stock stood at 50.37 lakh shares today, compared to the daily average of 103.49 lakh shares in last one month.

The benchmark June futures contract for the stock is quoting at Rs 348.05, up 2.1% on the day. Biocon Ltd is up 45.36% in last one year as compared to a 25.46% spurt in NIFTY and a 54.03% spurt in the Nifty Pharma index.

The PE of the stock is 377.5 based on TTM earnings ending March 24.

Powered by Capital Market - Live News