Biocon Pharma gets USFDA approval for Posaconazole Delayed-Release tablets; Stock climbs 2.5%

8 Feb 2022 , 10:10 AM

Biocon Pharma Limited, a subsidiary of Biocon Limited, received approval of its ANDA for Posaconazole Delayed-Release tablets from the USFDA, the company said in a filing on Monday.

This product is indicated for use in the prevention of certain fungal infections in patients with severely weakened immune systems and is available in 100mg strength. This approval further adds to Biocon’s portfolio of vertically integrated complex drug products, it said.

The company stock was trading higher on Tuesday morning and at around 10.12 am, Biocon Ltd was trading at Rs409.95 per share up by Rs10 or 2.5% from its previous closing of Rs399.95 per share on the BSE.

The scrip opened at Rs403 and has touched a high and low of Rs410.50 and Rs399.60 respectively.