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Biocon Limited (BIOCON.NS)

306.40

+14.75

(+5.06%)

At close: 3:29 PM GMT+5:30

India's Biocon developing its own version of Wegovy, clinical trial likely next year

Indian drugmaker Biocon, looking to grab a piece of the exploding weight-loss drug market as early as possible, is developing its own version of Novo Nordisk's wildly popular Wegovy and is prepared to conduct a clinical trial next year if needed, the CEO told Reuters. Wall Street has forecast the market for this new generation of obesity treatments reaching at least $100 billion by the end of the decade, and Biocon is taking steps to be a part of that windfall. "We're going to develop semaglutide for India even if it requires a clinical trial," Chief Executive Officer Siddharth Mittal said in an interview of the active ingredient in Wegovy and Ozempic.

Reuters 7 days ago

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UPDATE 1-Bristol Myers CEO says India to have largest R&D presence outside US by 2025

U.S. drugmaker Bristol Myers Squibb aims to expand its research and development presence in India and expects its newly inaugurated Hyderabad facility to become its largest unit outside the U.S. by 2025, CEO Christopher Boerner said on Tuesday. The $100-million facility, inaugurated by Boerner on Monday, is expected to employ over 1,500 employees and will be used to enhance its drug development through the use of digital technologies and artificial intelligence, he said in his keynote speech at the BioAsia conference. Bristol Myers also operates a research and development centre in Bengaluru in partnership with the Biocon Group's Syngene International.

Reuters last month

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India's Biocon posts profit on biosimilar boost, divestment gains; CFO resigns

Indian biopharmaceutical company Biocon Ltd swung to a third-quarter profit on Thursday, boosted by its biosimilars business and the sale of some of its non-core units, and said Chief Financial Officer Indranil Sen had resigned. Sen, who has been with the company for nearly a decade, resigned from the role to pursue career opportunities outside of Biocon, it said. For the latest quarter, the Bengaluru-based company reported a consolidated net profit of 6.6 billion rupees ($79.6 million), compared with a loss of 418 million rupees a year earlier.

Reuters 2 months ago

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Biocon Biologics Successfully Completes Integration of Viatris’ Biosimilar Business in 31 Countries in Europe

Biocon Biologics personnel working at the insulin devices manufacturing facility in Bengaluru, India. Biocon Biologics personnel working at the insulin devices manufacturing facility in Bengaluru, India. BENGALURU, India, Nov. 30, 2023 (GLOBE NEWSWIRE) -- Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd (BSE code: 532523, NSE: BIOCON), today announced that the integration of the Viatris’ biosimilars business in 31 European countries has been successfully completed. Following the acquisitio

GlobeNewswire 4 months ago

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Biocon may list biosimilars business by 2025 first half - CEO

Indian biopharmaceutical company Biocon Ltd is planning to list its biosimilars business, a significant contributor to the company's total revenue, by the first half of 2025, a top executive said on Friday. "I would say it (listing of the biologics business) can happen any time after the second half of 2024 ... it is likely to happen in the first half of 2025," Biocon Ltd CEO and Managing Director Siddharth Mittal told Reuters. Last year, Biocon acquired U.S.-based Viatris Inc's biosimilar business.

Reuters 8 months ago

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India's Biocon Biologics launches biosimilar for AbbVie's Humira in US

India's Biocon Biologics said on Monday it has launched a biosimilar version of AbbVie's blockbuster rheumatoid arthritis drug Humira in the United States. The launch of the copycat version, branded as Hulio, adds to a list of biosimilars introduced by drugmakers on Monday by Coherus Biosciences and Germany's Fresenius. Boehringer Ingelheim and Swiss drugmaker Sandoz launched their Humira biosimilars on Saturday.

Reuters 9 months ago

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India's Biocon Biologics says biosimilars put revenue on $1 bln trajectory

India's Biocon Biologics closed the year to end-March with revenue on a trajectory towards $1 billion, its CEO said on Wednesday, helped by strong sales in the U.S. and Europe from the biosimilars business it bought last year from Viatris Inc. Biocon Biologics, which acquired the biosimilars business of U.S-based Viatris in a $3.34 billion deal, said its annual revenue rose 61% year-on-year to 55.84 billion rupees, reflecting one quarter of consolidated figures after the buy, compared to 34.64 billion rupees the previous year. "This has been a landmark year for Biocon Biologics," Shreehas Tambe, the CEO of Biologics said after its Indian parent Biocon posted January-March results on Tuesday.

Reuters 10 months ago

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Top 15 Pharmaceuticals Companies in India

In this article, we will take a look at the top 15 pharmaceutical companies in India. For more companies, click Top 5 Pharmaceutical Companies in India. India is the largest producer of generic medications and vaccines worldwide. It makes up about 20% of the entire amount of generic drug supply in the world. With almost 200 […]

Insider Monkey 11 months ago

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Performance Overview

Return	BIOCON.NS	S&P BSE SENSEX
YTD	+22.73%	+2.06%
1-Year	+33.47%	+22.62%
3-Year	-22.36%	+53.99%

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Biocon Limited (BIOCON.NS)

India's Biocon developing its own version of Wegovy, clinical trial likely next year

UPDATE 1-Bristol Myers CEO says India to have largest R&D presence outside US by 2025

India's Biocon posts profit on biosimilar boost, divestment gains; CFO resigns

Biocon Biologics Successfully Completes Integration of Viatris’ Biosimilar Business in 31 Countries in Europe

Biocon may list biosimilars business by 2025 first half - CEO

India's Biocon Biologics launches biosimilar for AbbVie's Humira in US

India's Biocon Biologics says biosimilars put revenue on $1 bln trajectory

Top 15 Pharmaceuticals Companies in India

Performance Overview