Biocon Share Price Rose Over 5% Intraday: Check Why?

On January 7, 2025, Biocon share price experienced a notable increase of over 5%, reaching a day high of ₹376.75, after opening at ₹360.45. This surge in Biocon share price was attributed to a significant development involving its subsidiary, Biocon Biologics Ltd (BBL).

Approval of Ustekinumab BS in Japan

The primary catalyst for the increase in Biocon share price increase was the announcement that Biocon Biologics received approval for its Ustekinumab BS subcutaneous injection [YD], a biosimilar to the reference product, Stelara® (Ustekinumab), from Japan’s Pharmaceuticals and Medical Devices Agency (PMDA).

Ustekinumab BS Commercialisation in Japan

Ustekinumab, a monoclonal antibody, was developed and manufactured by Biocon Biologics. Following the approval, it will be marketed and commercialized in Japan by Biocon’s exclusive commercial partner, Yoshindo Inc. Ustekinumab is primarily approved for the treatment of Psoriasis Vulgaris and Psoriatic Arthritis (PsA).

Strategic Partnership with Janssen

Biocon Limited had previously disclosed that Biocon Biologics entered into a settlement and licensing agreement with Janssen Biotech Inc., Janssen Sciences Ireland, and Johnson & Johnson (collectively referred to as Janssen). This agreement allows Biocon Biologics to commercialize Ustekinumab in Japan, contingent on regulatory approval, further solidifying the company’s market position in the region.

Biocon Q3 FY25 Results

On Jan 3, 2025, Biocon Ltd announced that it has scheduled the Board meeting for January 30, 2025, inter alia, to approve and take on record the un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2024.

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