Biocon Shares Rise 2% After USFDA Approval For Yesintek Autoinjector
· Business · Economic Times
Biocon shares climbed 2% to Rs 420.25 on the BSE on Tuesday following the USFDA's supplemental approval for its Yesintek single-dose prefilled autoinjector. The approval covers two strengths, 45 mg/0.5 ml and 90 mg/ml, for use in treating conditions such as plaque psoriasis, psoriatic arthritis, Crohn’s disease, and ulcerative colitis. The company stated that this new delivery format provides a tailored treatment option for both adult and pediatric patients aged six and older. Biocon reported a net profit of Rs 141 crore for the June quarter of FY27, with consolidated operating revenue rising 10% year-on-year to Rs 4,336 crore. Growth was primarily driven by the Biopharma business, which recorded a 17% revenue increase due to recent biosimilar and generic product launches.
Why it matters
The USFDA approval expands Biocon's immunology portfolio in the United States, strengthening its position in the competitive biopharma market and providing a new treatment option for patients with debilitating autoimmune conditions.
Read the original report — Economic Times
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