Mumbai, October 7 (Udaipur Kiran): Shares of Biocon edged higher after its wholly owned subsidiary Biocon Pharma, in partnership with Carnegie Pharmaceuticals LLC, received tentative approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Rifaximin Tablets, 550 mg.
The stock is currently trading at ₹348.95, up ₹1.70 or 0.49% from its previous close of ₹347.25 on the BSE. It opened at ₹347.80 and touched an intraday high of ₹350.85 and a low of ₹347.70. A total of 27,193 shares were traded on the counter. The company’s market capitalization stands at ₹46,693.45 crore.
Over the past 52 weeks, Biocon’s stock has recorded a high of ₹405.90 (July 18, 2025) and a low of ₹290.80 (March 3, 2025). Promoter holding stands at 54.45%, while institutional investors hold 28.86% and non-institutional investors 16.68%.
Rifaximin Tablets, 550 mg are rifamycin antibacterial drugs indicated for:
Reducing the risk of overt hepatic encephalopathy (HE) recurrence, and
Treating irritable bowel syndrome with diarrhea (IBS-D) in adults.
The tentative approval marks another milestone in Biocon Pharma’s expansion in the U.S. generics market, reinforcing its focus on affordable treatments for chronic conditions.
Biocon Ltd is India’s largest and Asia’s leading biotechnology company, with a strategic focus on biopharmaceuticals and research services. It offers innovation-driven, affordable healthcare solutions across global markets.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
