Biocon in the spotlight

Biocon is in the spotlight today. The stock price has risen over 2.5% to Rs.628.50 and its 52-week high stands at Rs.657.75. The stock attracts a 10% circuit and the UC is at Rs.674.45.

The market is happy with the news that it, along with Maylan, have agreed to accelerate introduction of adalimumab biosimilar in Europe through Mylan's in-licensing arrangement with Fujifilm Kyowa Kirin Biologics (FKB).

FKB's product is at an advanced stage of review and could potentially obtain approval in Europe in the second half of 2018.

The company believes that through this arrangement, Mylan could commercialize FKB's Adalimumab in EU around market formation.

Biocon retains its economic interest in this arrangement vis-a-vis Mylan in line with its existing global collaboration with Mylan for monoclonal antibodies'.