Biocon gains 2% on US FDA nod for ANDA Norepinephrine Bitartrate Injection

Shares of the pharmaceutical company, Biocon, were ruling higher on the bourses on Monday, March 24, 2025. The company's share price advanced 2.23 per cent to a day's high of ₹351.80 per share on the National Stock Exchange (NSE) during the intra-day deals on Monday.

 

The northward movement in the Biocon share price came following the news that the company's subsidiary has received approval from the US Food and Drug Administration (US FDA) for its ANDA Norepinephrine Bitartrate Injection USP, 4 mg/4 mL (1 mg/mL) single-dose vial. Norepinephrine bitartrate injection is indicated to raise blood pressure in adult patients with acute hypotension.

 

 

"Biocon Pharma, a wholly owned subsidiary of the Company, has received approval from the U.S. Food and Drug Administration (U.S. FDA) for its ANDA Norepinephrine Bitartrate Injection USP, 4 mg/4 mL (1 mg/mL) single-dose vial," Biocon said in an exchange filing on the NSE.

 

Founded by Kiran Mazumdar-Shaw, Biocon is a global biopharmaceutical company. The company's 4 global businesses include generics, biosimilars, research services, and novel biologics. The company also manufactures novel biologics, including biosimilar insulins and antibodies. As of March 24, 2025, Biocon's market capitalisation stands at ₹42,008.99 crore on the NSE.

 

Biocon shares have yielded a return of nearly 35 per cent in the last year. The biopharmaceutical company's share price, however, has posted a decline of nearly 5 per cent year-to-date.

 

Biocon shares have a 52-week range of ₹404.70-247.55 per share on the NSE.

 

The biopharmaceutical company's shares continued to trade higher on the bourses on Monday. At around 2:22 PM on Monday, Biocon shares were trading at ₹350 per share, up 1.71 per cent from their previous close of ₹344.10 on the NSE.

 

At the same time, the benchmark Indian equity indices BSE Sensex and NSE Nifty50 were trading higher by over 1 per cent each. The 30-share Sensex was trading at around 77,973 levels, up 1,068 points or 1.39 per cent, while the NSE Nifty50 was up 335 points or 1.44 per cent at around 23,686 levels.