Biocon stock advances after biosimilar Trastuzumab gets approval in the EU

Ogivri, a biosimilar Trastuzumab jointly developed by Biocon and Mylan, has been approved in the EU.

Dec 19, 2018 04:12 IST India Infoline News Service

Biocon
Shares of Biocon are marginally up on the NSE in today's early morning session. Ogivri, a biosimilar Trastuzumab jointly developed by Biocon and Mylan, has been approved in the EU.

The European Commission has granted Marketing Authorization for Ogivri to Mylan. The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) had earlier issued a positive opinion recommending the approval of Ogivri as a biosimilar to Roche's Herceptin (Trastuzumab) on October 18, 2018, the company said in a BSE filing.

“Ogivri is indicated for the treatment of patients with HER2 positive early breast cancer (EBC), metastatic breast cancer (MBC) and metastatic gastric cancer (MGC). Under supervision of the relevant healthcare professional it can be prescribed as either monotherapy or in combination with other medicines dependent on the relevant diagnosis,” a company spokesperson said.

Biocon Ltd is currently trading at Rs643.50 up by Rs2.85 or 0.44% from its previous closing of Rs640.65 on the BSE. The scrip opened at Rs640.65 and has touched a high and low of Rs646.60 and Rs640.05 respectively.

Biocon is a fully-integrated biopharma player and has API manufacturing facilities, strong capabilities in biologics, innovative drug development and a branded generics business in India.

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