Biocon's US prospects get a boost after company receives EIR from USFDA

The insulin patent win, clearance of Malaysian unit and oncology biosimilar filing are triggers

Even as the benchmark indices were down 4 per cent on Wednesday, the Biocon stock jumped 2.8 per cent. The company received a go ahead (EIR) from the US drug regulator after an inspection for its insulin manufacturing facility in Malaysia. EIR is an establishment inspection report, which is given by US FDA upon closure of its inspection. This paves the way for the launch approval and commercialization of insulin (Glargine) in the US. The company, along with its partner, had already won a patent ligation for insulin Glargine in the US recently and thereafter filed for the launch of