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Biocon gains as its arm and Just – Evotec Biologics sign licensing deal for biosimilar asset

Biocon is currently trading at Rs. 241.15, up by 0.95 points or 0.40% from its previous closing of Rs. 240.20 on the BSE.

The scrip opened at Rs. 242.40 and has touched a high and low of Rs. 245.00 and Rs. 239.50 respectively. So far 81770 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 341.50 on 22-Oct-2018 and a 52 week low of Rs. 211.30 on 20-Aug-2019.

Last one week high and low of the scrip stood at Rs. 245.00 and Rs. 223.80 respectively. The current market cap of the company is Rs. 28800.00 crore.

The promoters holding in the company stood at 60.67%, while Institutions and Non-Institutions held 20.72% and 18.61% respectively.

Biocon’s wholly owned subsidiary — Biocon Biologics and Just – Evotec Biologics, wholly owned by Evotec, have entered into a strategic licensing agreement for an early-stage, pre-clinical bio-similar asset.

Biocon Biologics will take this bio-similar asset through end-to-end development, IND filing, manufacturing and commercialization post-regulatory approval, under its own label in global markets. Biocon Biologics aims to address the needs of a large patient pool through this differentiated therapy. Through this in-licensing deal, Biocon Biologics has expanded its current therapeutic basket of biosimilars going beyond diabetes, oncology and immunology.

Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation-driven biopharma enterprise offering affordable solutions for chronic diseases to patient’s worldwide.

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