Biocon's biosimilar drug for eye treatment gets USFDA approval

22 May 2024 , 12:04 PM

Biocon Biologics announced on Tuesday that the US health regulator has approved its biosimilar medication for the treatment of several ophthalmic disorders.

The US Food and Drug Administration (FDA) has approved the company’s first-to-file application for Yesafili, a vascular endothelial growth factor inhibitor used to treat a variety of ophthalmic problems, according to a statement.

Yesafili is intended to treat neovascular age-related macular degeneration, macular oedema caused by retinal vein blockage, diabetic macular oedema, and myopic choroidal neovascularisation.

“This approval builds on company’s successful track record of bringing the first interchangeable insulin, Semglee, the first biosimilar Trastuzumab, Ogivri, and the first biosimilar Pegfilgrastim, Fulphila, to patients in the United States,” Biocon Biologics CEO & Managing Director Shreehas Tambe stated.

The company reports that 19.8 million Americans suffer from age-related macular degeneration. In the United States, aflibercept sales were estimated to be $5.89 billion in 2023.

Biocon Biologics, located in Bengaluru, India, is a one-of-a-kind, fully integrated global biosimilars provider with well-established capabilities in biosimilar discovery, production, and commercialization.

Biocon Biologics is now a global biosimilars market leader, working to offer patients with inexpensive biologics and promote health equity around the world. Biocon Biologics is motivated by a strong sense of purpose and an unshakable dedication to helping patients and healthcare systems around the world by providing equal access to high-quality biosimilars.

At around 11.56 AM, Biocon was trading 0.46% higher at ₹309, against the previous close of ₹307.60 on NSE. The counter touched an intraday high and low of ₹311.50, and ₹304.50, respectively.

For feedback and suggestions, write to us at [e-mail]

For opening a demat account click on: https://www.indiainfoline.com/

For doing stock trading & investments, go to: https://ttweb.indiainfoline.com/trade/Login.aspx

For loans, go to: https://www.iifl.com/