Shares of Biocon shine in the morning trade; here’s why

About Integration of Viatris’ 

Biocon’s subsidiary — Biocon Biologics has completed the Integration of Viatris’ Biosimilar Business in 31 Countries in Europe. Following the acquisition of substantially all of the global biosimilar business of Viatris in November 2022, and the related integration of over 70 emerging market countries in July 2023 and North America in September 2023, the full transition of Viatris’ biosimilars operations to Biocon Biologics in Europe represents another significant milestone as a world-leading biosimilars company.

In Europe, Biocon Biologics portfolio includes 7 biosimilars: Insulin Aspart and Insulin Glargine, Bevacizumab, Pegfilgrastim, Trastuzumab, Adalimumab, and Etanercept. At a global level, Biocon Biologics has a robust pipeline of 20 assets for diabetology, oncology, immunology, ophthalmology, and bone health. Serving over 5.7 M patients annually, the company is committed to providing access to high-quality therapies and solutions to patients, healthcare systems and governments across the globe.

Share performance 

Biocon is currently trading at Rs 241.80, up by 3.35 points or 1.40% from its previous closing of Rs 238.45 on the BSE. The scrip opened at Rs 240.05 and touched a high and low of Rs 245 and Rs 240.05, respectively. So far 139158 shares have been traded on the counter.

The BSE group ‘A’ stock of face value of Rs 5 has touched a 52-week high of Rs 286.40 and a 52-week low of Rs 191.60. Last one week high and low of the scrip stood at Rs 245 and Rs 231.35, respectively. The current market cap of the company is Rs 29,036.51 crore. The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 22.05% and 17.32%, respectively.

Company profile 

Biocon Limited is a public limited company based in India that manufactures biotechnology products and research services. The company is an innovation-led global biopharmaceutical company focused on providing affordable access to complex therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. It has developed and commercialized novel biologics, biosimilars, and small molecule APIs in India and key global markets, as well as generic formulations in the US and Europe. Biocon also has a pipeline of promising immunotherapy assets under development.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.