Biocon rises after subsidiary gets US FDA approval for Norepinephrine Bitartrate Injection

Biocon added 1.34% to Rs 348.55 after the company's wholly owned subsidiary Biocon Pharma announced the receipt of U.S Food and Drug Administration (US FDA) approval for its ANDA Norepinephrine Bitartrate Injection.

Norepinephrine bitartrate injection is indicated to raise blood pressure in adult patients with acute hypotension.

The approval further adds to Biocons portfolio of complex drug products, the company said in a statement.

Biocon is an innovation-led global biopharmaceuticals company engaged in the production of therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. It has developed and commercialized novel biologics, biosimilars, and complex small-molecule APIs in India and several key global markets, as well as generic formulations in the US, Europe, & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development.

The company had reported a consolidated net profit of Rs 25 crore in Q3 FY25, which is significantly lower as compared with the PAT of Rs 660 crore posted in Q3 FY24. Revenue from operations fell by 3% YoY to Rs 3,821 crore during the period under review.

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