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Strong growth prospects: In Biocon, investors see a blockbuster pipeline

US nod to application for breast cancer drug is latest positive for the stock

Ujjval Jauhari  |  New Delhi 

The Street remains upbeat on Biocon, whose stock continues to trade at similar levels after hitting an all-time high of Rs 1,052 in January. The latest trigger is a US nod to a biologics licence application (BLA) for breast cancer drug trastuzumab in January. Biocon and Mylan had made their first regulatory filing to the US for the drug in November 2016. With the acceptance of the BLA, the Street expects approval of the product by September 2017.   Arun Chandavarkar, chief executive and joint managing director, Biocon, said, “It is a major milestone for Mylan-Biocon ...

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