Biocon hits record high on collaboration with Sandoz

The stock hit a record high of Rs 564, up 4% on NSE after the company entered into a global partnership with Sandoz to develop, manufacture and commercialise multiple biosimilars.

Biocon hits a record high of Rs 564, up 4% on the National Stock Exchange (NSE), after the company entered into a global partnership with Sandoz to develop, manufacture and commercialise multiple biosimilars in immunology and oncology. Sandoz is a Novartis division and a global leader in biosimilars.

“Under the terms of the agreement, both companies will share responsibility for end-to-end development, manufacturing and global regulatory approvals for a number of products and will have a cost and profit share arrangement globally,” Biocon said in a press release.

Worldwide commercialization responsibilities will be divided and each company's strengths