&w=3840&q=100)
Should you buy Biocon shares as USFDA gives approval to diabetes drug?
At 09:30 AM, Biocon shares were trading at ₹398.15, up by 1.97 per cent on the National Stock Exchange. In comparison, the Nifty50 witnessed a downtrend, trading at 25,140.05, down by 0.22 per cent or 55 points. So far this calendar year, shares of the biopharma company have experienced a decent rise of 6.8 per cent. Around 7.2 million shares have changed hands on the counter, cumulatively, on the NSE and BSE at the time of writing this report.
Kirsty has been available in the European Union (EU) and Canada since 2022. With the latest FDA approval, it becomes the first and only interchangeable biosimilar to NovoLog in the US. According to IQVIA data for 2024, Insulin Aspart US sales stood at $1.9 billion. This development marks Biocon Biologics' continued expansion spree in the diabetes portfolio.
About Kirsty
Kirsty is a rapid-acting insulin used to manage blood sugar levels in adults and children with diabetes. The insulin will be available in a prefilled pen for individual use and a multi-dose vial for both subcutaneous and intravenous usage.
'The FDA approval of Kirsty, the first and only interchangeable biosimilar rapid-acting Insulin Aspart in the US, is a significant step forward in our efforts to make insulin more accessible and affordable, said Shreehas Tambe, CEO and managing director, Biocon Biologics. "With Kirsty, we are expanding treatment choices for people living with diabetes and advancing our ambition to be a global leader in addressing unmet needs in diabetes care,' he added.
Brokerage View- WealthMills Securities
On an annual basis, Biocon shares have experienced a healthy double-digit rise of over 11 per cent on the bourses. Kranthi Bathini, director of equity strategy at WealthMills Securities, has maintained a 'Hold' rating on the stock. Biocon's future revenue growth will likely come from two main sources: its portfolio of biosimilars and new molecular entity.
The company is also planning to merge with its subsidiary firm, Biocon Biologics, to form business synergies. Just last month, the biopharma company raised ₹4,500 crore via a qualified institutional placement (QIP) issue.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
5 hours ago
- Business Standard
US bans flu shots with thimerosal in RFK Jr led vaccine policy shift
The United States will stop distributing all influenza vaccines that contain mercury-based preservative thimerosal, marking the latest move by US Health Secretary Robert F. Kennedy Jr. to reshape vaccine policy. Last month, a vaccine panel with members handpicked by Kennedy voted in favor of Americans receiving seasonal flu shots that are free from thimerosal, despite decades of studies showing no related safety issues. About 5 per cent of flu shots given in the US in the last flu season were multi-dose vials that contained the preservative, which was largely phased out decades ago. Anti-vaccine groups have for decades linked thimerosal to autism and other neurodevelopmental disorders, and Kennedy wrote a book in 2014 in which he advocated for "the immediate removal of mercury" from vaccines. The FDA on its website says "there was no evidence that thimerosal in vaccines was dangerous," and that the decision to remove it previously was a precautionary measure to decrease overall exposure to mercury among young infants. One of the panelists, who voted against the recommendation, had pointed out that the risk of not receiving the influenza vaccine because it contains thimerosal is greater than any known risks of the preservative. CSL's Afluria, and Flucelvax and Sanofi's Fluzone include thimerosal in multi-dose versions, according to the FDA's website. Kennedy accepted the panel's recommendation, the Department of Health and Human Services said on Wednesday, in the absence of the CDC director, who typically signs off on them before they are implemented. President Donald Trump's nominee for the CDC director, Susan Monarez, is yet to be confirmed by the US Senate. Other recommendations made by the panel, known as the Advisory Committee for Immunization Practices, at a meeting in June are still under review, the HHS said. Vaccine manufacturers have confirmed that they have the capacity to replace multi-dose vials containing the preservative, ensuring that supplies will not be interrupted, HHS said. Sanofi said it acknowledges the new policy and will have sufficient supply of the flu vaccine this season. CSL did not immediately respond to a Reuters request for comment.
Time of India
5 hours ago
- Time of India
RFK Jr backs mercury-free flu shots: Vaccine panel splits; global supply may suffer
Health Secretary Robert F. Kennedy Jr. (AP file photo) US health secretary Robert F Kennedy Jr on Wednesday signed a recommendation to eliminate thimerosal from all influenza vaccines. Thimerosal, a mercury-based preservative used in vaccines since World War II, has long been criticised by anti-vaccine groups. Kennedy, a known sceptic of vaccine safety standards, said, 'After more than two decades of delay, this action fulfills a long-overdue promise to protect our most vulnerable populations from unnecessary mercury exposure. ' The recommendation came from the advisory committee on immunisation practices (ACIP), following a 26 June meeting where the majority voted against allowing any flu vaccines to contain thimerosal. The proposal was introduced by Lyn Redwood, former head of children's health defence, an anti-vaccine group Kennedy himself founded. However, not everyone on the panel agreed. Dr Cody Meissner was the only ACIP member to oppose the decision. He argued there is no scientific evidence that thimerosal caused harm and warned that banning it could increase costs and reduce vaccine access, especially in countries that still rely on preserved vaccine stock. According to the centers for disease control and prevention, nearly 96% of flu vaccines in the US are already thimerosal-free for the 2024–2025 season. But FDA continues to back its safety, citing decades of global research. FDA states that 'a robust body of peer-reviewed, scientific studies conducted in the United States and countries around the world support the safety of thimerosal-containing vaccines.' While improved manufacturing has made preservatives less necessary, experts say a full ban could hurt international vaccine programmes that still depend on multi-dose vials containing thimerosal.
Time of India
7 hours ago
- Time of India
Syngene International reports 11% revenue growth and 59% net profit surge in Q1
Synopsis Syngene International, a Biocon subsidiary, reveals an 11% revenue increase to Rs 875 crore for the first quarter. Net profit jumps 59% to Rs 87 crore. Growth is attributed to research services and biologics manufacturing. Operations commenced at Unit III in Bengaluru. Preparations advance for the Bayview facility in the US.
