Biocon hits 52-week high on DCGI nod to market biosimilar trastuzumab in India
The stock has rallied nearly 5% to Rs 389 in past two trading sessions on the National Stock Exchange.
Shares of Biocon is trading higher by 1% at Rs 389, extending its previous day’s over 3% rally, after the company said it has received approval from the Indian drug regulator to market its biosimilar trastuzumab developed jointly with Mylan for treating breast cancer.
“The company has received market authorisation from the Drug Controller General of India (DCGI) for its biosimilar trastuzumab being developed jointly with Mylan for the treatment of Her 2+ metastatic breast cancer,” Biocon said in a statement.
The stock opened at Rs 388 and touched high of Rs 390, also its 52-week high on the NSE. A combined 202,000 shares have changed hands on the counter so far on the NSE and BSE.
Source: Business Standard
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