Biocon hits 52-week high
The stock rallied 6% to Rs 510 as the company introduced of an advanced novel therapy CIMIVIR-L for the treatment of Hepatitis C in India.
 "Biocon hits 52-week high")
Biocon has moved higher by 6% to Rs 510, also its 52-week high on the BSE, after the company announced the introduction of an advanced novel therapy CIMIVIR-L for the treatment of Hepatitis C in India.
“CIMIVIR-L is a fixed dose combination of Ledipasvir 90 mg and Sofosbuvir 400 mg, which is equivalent of the innovator product commercialized by Gilead Sciences in the US,” Biocon said in a statement.
The Drugs Controller General of India (DCGI) recently approved the sale of Sofosbuvir- Ledipasvir combination, which is being manufactured in India under a license from Gilead, it added.
CIMIVIR-L, a once-a-day oral therapy, will offer a convenient, effective and safe alternative to people infected with the Hepatitis-C virus (HCV).
At 09:49 a.m. the stock was up 5% at Rs 508 on the BSE as compared to a marginal 0.05% decline in S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 959,130 shares changed hands on the counter on the NSE and BSE so far.
“CIMIVIR-L is a fixed dose combination of Ledipasvir 90 mg and Sofosbuvir 400 mg, which is equivalent of the innovator product commercialized by Gilead Sciences in the US,” Biocon said in a statement.
The Drugs Controller General of India (DCGI) recently approved the sale of Sofosbuvir- Ledipasvir combination, which is being manufactured in India under a license from Gilead, it added.
CIMIVIR-L, a once-a-day oral therapy, will offer a convenient, effective and safe alternative to people infected with the Hepatitis-C virus (HCV).
At 09:49 a.m. the stock was up 5% at Rs 508 on the BSE as compared to a marginal 0.05% decline in S&P BSE Sensex. The trading volumes on the counter more than doubled with a combined 959,130 shares changed hands on the counter on the NSE and BSE so far.