Plenty of catalysts for Biocon over the next few months, say analysts

Progress in biologics, projects in the pipeline driving prospects

Rising almost 10 per cent in intra-day trade, shares of Biocon scaled an all-time high of Rs 455 apiece on Monday, before closing the day with minor gains. The Drug Controller General of India’s (DCGI’s) nod for the launch of Covid-19 treatment biologic Itolizumab (ALZUMAb) in an injectable form for emergency use, coupled with the company’s claim of its efficacy, constituted major triggers. 

Analysts say Biocon’s product has an advantage and is to be used for patients suffering from moderate- to severe-respiratory distress. While many players have launched drugs for emergency use in Covid cases, actual sales will depend on a