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Shares of Biocon surged as much as 11% to Rs 360 in intraday ahead of the USFDA meet to discuss its breast cancer drug filing. The US drug regulator’s Advisory Committee (Adcom) will be meeting on July 13 to discuss trastuzumab filing done by Mylan, Biocon’s partner. Trastuzumab is used to treat metastatic (spread) breast cancer. The scrip plunged over 9% during Monday’s trade on the BSE as the French inspecting authority (ANSM) found lapses at Biocon's Bengaluru plant. The stock fell around one third of a percent in the past one month, while its three-day gain stood at over 2%. At 12:19 pm, Biocon was quoting at Rs 355, up 10% on the BSE.
It touched an intraday high of Rs 360 and an intraday low of Rs 340. So far 5.2 million shares traded on the counter. The current market cap of the company is Rs 19,386 crore.