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Biocon shares gain 2% as Japan partner launches Ustekinumab biosimilar
The pharmaceutical company's stock rose as much as 2.02 per cent during the day to ₹339.2 per share, the biggest intraday gain since May 13. The stock pared gains to trade 1.61 per cent higher at ₹337.8 apiece, compared to a 0.9 per cent advance in Nifty 50 as of 10:25 AM.
Shares of the company were trading range-bound since the beginning of the month and have risen over 13 per cent from its recent lows of ₹299, which it hit in April. The counter has fallen 7 per cent this year, compared to a 5.3 per cent advance in the benchmark Nifty 50. Biocon has a total market capitalisation of ₹40,754.37 crore.
Why are Biocon shares up?
Biocon Biologics, a subsidiary of Biocon, announced that its commercial partner in Japan, Yoshindo Inc., has launched Ustekinumab BS Subcutaneous Injection.
Developed and manufactured by Biocon Biologics, the biosimilar will be marketed in Japan by Yoshindo, it said in an exchange filing on Wednesday. Ustekinumab is a monoclonal antibody used to treat psoriasis vulgaris and psoriatic arthritis.
In April 2024, Biocon Biologics signed a settlement and licensing agreement with Janssen (a group of Johnson & Johnson companies) to sell the biosimilar in Japan after regulatory approval. The drug received approval from Japan's Pharmaceuticals and Medical Devices Agency (PMDA) in December 2024.
Biocon Q4 results
The Bengaluru-based biopharma major reported a 153 per cent year-on-year (Y-o-Y) rise in consolidated net profit to ₹344 crore for the fourth quarter of FY25, compared to ₹136 crore in Q4 FY24.
The company's profit before tax (PBT) stood at ₹487 crore, up 53 per cent Y-o-Y. The Board has also approved a plan to raise up to ₹4,500 crore through various modes, including qualified institutional placement, rights issue, or other permissible routes.
Biocon's total consolidated revenue for Q4 FY25 was ₹4,454 crore, up from ₹3,966 crore in Q4 FY24. Ebitda stood at ₹1,115 crore, marking a 16 per cent rise, with a maintained margin of 25 per cent.
Biocon also secured 12 regulatory approvals and made several filings for biosimilars, including bUstekinumab, bDenosumab, and bAflibercept across multiple countries, aiming to expand patient access globally.
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What if I booked through a travel agent or third-party app? You should contact them directly to manage your booking.
