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Biocon up 9% as breast cancer biosimilar gets USFDA panel nod

The stock soared 8.88% to settle at Rs 399.20 on BSE

Press Trust of India  |  New Delhi 

Biocon up 9% as breast cancer biosimilar gets USFDA panel nod

Shares of today surged nearly 9 per cent after the US health regulator's Oncologic Drugs Advisory Committee (ODAC) recommended approval for the company's proposed biosimilar trastuzumab, indicated for treatment.

The stock soared 8.88 per cent to settle at Rs 399.20 on During the day, it jumped 10.18 per cent to Rs 404.


On NSE, it zoomed 8.87 per cent to end at Rs 400.35.

On the volume front, 21.50 lakh shares of the company were traded on and over one crore shares changed hands at NSE during the day.

Drug majors Mylan and today said the US health regulator's Oncologic Drugs Advisory Committee (ODAC) has recommended approval for their proposed biosimilar trastuzumab, indicated for treatment.

In a regulatory filing, said the committee voted 16-0 in support of eligible indications of the reference product.

"This vote marks first proposed biosimilar Trastuzumab to be recommended by the committee," it added.

Both the companies, in a joint statement, said the US Food and Drug Administration (USFDA) uses advisory committees and panels to obtain independent expert advice on a variety of matters, including product approvals.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, July 14 2017. 18:10 IST
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