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Biocon: Street to keep an eye on CY21 launches, market share gains

Launch of a cancer drug was delayed due to Covid-19

Employees of Biocon Ltd work inside the company's research and development centre in Bengaluru. File photo: Reuters
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The company is hoping to hit the $1 billion sales mark in FY22 from the current $350 million for the biologics segment

Ram Prasad Sahu Mumbai
The Biocon stock was down 3.4 per cent after the US Food and Drug Administration (FDA) deferred its decision on the company’s application to launch a biosimilar of Bevacizumab in the American market. The market for the drug, which is used in treating some cancers and eye diseases, is pegged at $3 billion.

The US drug regulator was unable to inspect the company’s manufacturing facility because of travel restrictions on account of Covid-19. The application for approval was filed by Biocon’s subsidiary, Biocon Biologics.

While analysts have not modified their FY21 earnings estimates because of the delay in the approval process, they

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First Published: Dec 28 2020 | 7:42 PM IST

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