Page 10 - Biocon

Biocon shares trim most of early gains, end flat amid profit-taking

Shares of Biocon trimmed most of their early gains and ended flat on Wednesday amid profit-taking. During the early trade, the stock climbed nearly 8 per cent after the biotechnology major's consolidated net profit increased 31 per cent for the March quarter. The stock gained 7.12 per cent to Rs 259.50 during the day on the BSE but failed to hold on to the momentum and ended flat. It settled at Rs 243 apiece, marginally up 0.31 pe cent. On the NSE, the stock settled at Rs 242.95 per share, a gain of 0.33 per cent after rallying 7.61 per cent to Rs 260.60 during the day. In volume terms, 18.97 lakh shares of the company were traded on the BSE and over 1.77 crore shares on the NSE during the day. On Tuesday, Biocon said its consolidated net profit increased 31 per cent to Rs 313 crore for the March quarter on the back of robust sales. The company had reported a net profit of Rs 239 crore in January-March 2021-22. Total revenue increased to Rs 3,929 crore in the fourth quarter as a

Stocks to Watch today, May 24: Adani Group, Max Health, Biocon, Manyavar

Stocks to watch on May 24, 2023: Cummins, Hindalco, India Cements, LIC, National Aluminium, Nykaa and Oil India among prominent companies scheduled to announce Q4 results on Wednesday.

Competition Commission gives nod to Edelweiss-Biocon Biologics deal

Fair-trade regulator CCI on Tuesday said it has cleared Edelweiss Alternative Asset Advisors and ESOF III Investment Fund's subscription to certain compulsorily convertible debentures of Biocon Biologics Ltd. The deal has been cleared under the green channel route. Edelweiss Alternative Asset Advisors is a Sebi-registered alternative asset advisor, while ESOF III Investment Fund is a Sebi-registered Alternative Investment Fund (AIF). The proposed combination relates to Edelweiss Alternative Asset Advisors and ESOF III Investment Fund's proposal to subscribe to certain compulsorily convertible debentures issued by Biocon Biologics Ltd (BBL), according to CCI. BBL is a global biosimilar firm, engaged in the manufacturing and commercialisation of pharmaceutical formulations. The Competition Commission of India (CCI) said it has approved the proposed deal. "The parties' activities do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant ...

Biocon Biologics facility gets EU GMP certification for Bevacizumab

Biotechnology major Biocon on Friday said the Bengaluru-based plant of Biocon Biologics has received EU GMP approval for a biosimilar product. Biocon Biologics' facility has received a certificate of GMP compliance for Bevacizumab from the representative European inspection authority -- Health Products Regulatory Authority (HPRA), Ireland. Bevacizumab is indicated for the treatment of various types of cancers and a specific eye disease. "This approval reflects Biocon Biologics compliance with the highest international regulatory standards and enables the company to continue addressing the needs of patients in the EU," a company spokesperson said in a statement. This (B3) facility, which is one of India's largest monoclonal antibodies (mAbs) manufacturing facilities, had received the EU GMP Certification for manufacturing biosimilar Trastuzumab last year, the spokesperson said. Biocon Biologics is a subsidiary of Biocon Ltd.

Serum Institute of India doubles Biocon investment to $300 million

The earlier investment by SILS in BBL was at a valuation of $4.9 billion, and the fresh $150-million investment pushes it up at $6 billion

Serum Institute to pump in additional $150 mn in Biocon Biologics

Serum Institute of Life Sciences will invest an additional USD 150 million in Biocon Biologics as the partners decided to restructure the deal which was inked in 2021, Biocon said on Tuesday. With the fresh capital infusion, Serum's total investment in Biocon Biologics will touch USD 300 million. Biocon Biologics Limited (BBL) and Serum Institute of Life Sciences (SILS) have reached an agreement to withdraw from the original equity structure contemplated under their strategic alliance announced in September, 2021, the Bengaluru-based biotechnology firm said in a statement. As per the new terms of the collaboration, Serum Life Sciences, a part of vaccine major Serum Institute of India, would make an additional equity investment of USD 150 million through the conversion of the USD 150 million loan provided to Biocon Pharma Ltd, a wholly-owned subsidiary of Biocon Ltd, into equity in BBL, it noted. This investment is in addition to the USD 150 million that Serum Institute of Life ...

Serum Institute to double its investment in Biocon's unit to $300 million

SILS will now make an additional equity investment of $150 million through the conversion of an earlier loan provided to Biocon Pharma into equity in BBL

Integrated Core Strategies (Asia) buys Biocon shares worth Rs 185 crore

Integrated Core Strategies (Asia) Pte on Tuesday bought shares of biopharmaceutical company Biocon for Rs 185 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Integrated Core Strategies (Asia) Pte purchased 80,61,599 shares at an average price of Rs 229.26 each share. The aggregate deal value is Rs 184.82 crore. Details about the sellers could not be immediately ascertained. On Tuesday, shares of Biocon closed marginally lower at Rs 229.50 apiece on NSE.

Have to keep R&D spends at 12% of revenue: Biocon's Kiran Mazumdar-Shaw

It's a high growth phase for us in Biocon Biologics: We crossed the Rs 1,500-crore mark in revenue for the first time this quarter. We will exit this year (FY23) at Rs 2,000-crore level

Viatris deal-related expenses drag Biocon's Q3 net into Rs 42 cr loss

This, even as revenues rise 36% and Ebitda is up 35%

Biocon sells 9.96% stake in contract research firm Syngene via open market

Bengaluru-based Biocon had in September 2022 sold a 5.4% stake in the open market, as per an exchange filing

Bank of Baroda, CG Power may get added to MSCI global standard index

Biocon is expected to get excluded from the index

Mehul Kothari recommends Biocon, Aurobindo Pharma for trading gains

According to the technical analyst from Anand Rathi, Aurobindo Pharma can rally to Rs 490; while Biocon can jump to Rs 295.

Biocon starts new clinical study to evaluate efficacy of Itolizumab

Biotechnology major Biocon on Wednesday said it has initiated a clinical study in collaboration with Equillium Inc to evaluate efficacy of Itolizumab in patients with Ulcerative Colitis. This is a phase two randomised, double-blind, parallel-group, placebo and active-controlled (adalimumab), two treatment period study to evaluate the safety and efficacy of Itolizumab for the induction of remission in biologics naive patients with moderate to severely active Ulcerative Colitis (UC), Biocon said in a statement. Having obtained approval from the Drugs Controller General of India (DCGI), the study will cover several tertiary hospitals specialised in handling UC cases, it added. The first patient who intended to participate in the study was screened on December 1, 2022, the company said. "The commencement of the Phase two clinical study, that will determine its efficacy for the treatment of Ulcerative Colitis, is an important step forward in our efforts to bring its benefit to patients

Podcast: Will Viatris deal inject fresh momentum into Biocon biz?

Sohini Das caught up with Biocon Biologics CEO Shreehas Tambe to know more about the deal and the company's future plans

Viatris deal gives Biocon Biologics entry in 100 countries: Shreehas Tambe

In a Q&A, the recently named MD & CEO of Biocon Biologics dwells on the scope for an IPO or stake sale to PE investors to retire the debt taken to fund the acquisition

Biocon Biologics elevates Shreehas Tambe as managing director, CEO

Biocon Biologics on Monday said it has elevated Shreehas Tambe as Managing Director and CEO of the company with immediate effect. Tambe was Deputy CEO of Biocon Biologics, a subsidiary of Bengaluru-based Biocon. He takes over from Arun Chandavarkar, who will continue to serve as a non-executive, non-independent director on the Biocon Biologics board, the company said in a statement. Shreehas is taking on the responsibility of leading Biocon Biologics as MD & CEO at a time when the company is gearing up for global leadership in biosimilars with the closing of the Viatris acquisition, Biocon & Biocon Biologics Executive Chairperson Kiran Mazumdar-Shaw said. Shreehas will be aided by a highly experienced executive leadership team in building a future-ready, world leading biosimilars player and a well-recognised global brand that is committed to impacting global healthcare, she added. Tambe has been with Biocon since 1997 and has held diverse leadership and operational roles.

Shreehas Tambe elevated as MD & CEO of Biocon Biologics effective Monday

He was earlier the firm's deputy CEO; Outgoing MD Arun Chandavarkar to remain on co Board

Biocon Biologics completes acquisition of Viatris' global biosimilars biz

Biocon on Tuesday said its unit Biocon Biologics has completed the multi-billion dollar acquisition of the global biosimilars business of its partner Viatris Inc. In February this year, Biocon Biologics inked a pact to acquire Viatris Inc's biosimilars business for consideration of up to USD 3.33 billion (about Rs 24,990 crore). Biocon Biologics and Viatris have obtained all applicable approvals from key global regulators, including the US Federal Trade Commission, the Competition Commission of India and the Reserve Bank of India, and its investors, the Bengaluru-based company said in a statement. Effective from the date of closing, Biocon Biologics will recognise the combined revenue and associated profits from the acquired products, a step up from the existing profit share arrangement, it added. As a part of completing the transaction, Biocon Biologics has issued Compulsorily Convertible Preference Shares (CCPS) valued at USD 1 billion, equivalent to an equity stake of at least 1

China-Plus-One strategy: Indian API firms start to reap benefits

Rising Chinese labour costs, geopolitics, pandemic-stricken uncertainties have forced global players to derisk