Biocon inches up on signing semi-exclusive partnership agreement with Zentiva

Biocon is currently trading at Rs. 280.75, up by 0.65 points or 0.23% from its previous closing of Rs. 280.10 on the BSE.

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The scrip opened at Rs. 283.10 and has touched a high and low of Rs. 283.10 and Rs. 280.55 respectively. So far 5005 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 410.50 on 08-Feb-2022 and a 52 week low of Rs. 258.30 on 17-Oct-2022.

Last one week high and low of the scrip stood at Rs. 293.30 and Rs. 279.50 respectively. The current market cap of the company is Rs. 33628.81 crore.

The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 23.55% and 15.81% respectively.

Biocon has signed semi-exclusive partnership agreement with Zentiva, a leading pharmaceutical company in Europe, for the commercialization of its vertically integrated, complex formulation, Liraglutide, a drug-device combination for the treatment and management of Type 2 diabetes and obesity.

Under the terms of this agreement Biocon will be responsible for the manufacturing and supply of Liraglutide to Zentiva, for its commercialization across 30 countries in Europe.

Biocon will also retain the right to commercialize this product under its own brand in the region.

Zentiva has a strong legacy in branded generics across several therapeutic areas, including diabetes, cardiology, respiratory and oncology.

With a committed focus on research and development, and four flagship manufacturing facilities in Bucharest, Prague and Ankleshwar, Zentiva is rapidly expanding its reach in Europe and beyond.

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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