Biosimilar progress adds to Biocon's prospects as stock gains 14%

Regulatory tailwinds and launches in EU, US to drive earnings

Improving prospects of its biosimilars portfolio have helped the Biocon stock gain about 14 per cent over the last month. Recently, the company received a positive recommendation for glargine (insulin) from the European Union’s Committee for Medicinal Products for Human Use, which implies a final approval for the product is in the offing.

In the US market, too, the company and its partner Mylan received approval in December for breast cancer drug trastuzumab, a biosimilar version of Roche’s herceptin. According to Morgan Stanley analysts, the US nod is likely to accelerate approvals in other emerging markets as well. They expect