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Biocon rises on getting its first Generic Formulation approval in EU

16 Feb 2016 Evaluate

Biocon is currently trading at Rs. 460.60, up by 3.25 points or 0.71% from its previous closing of Rs. 457.35 on the BSE.

The scrip opened at Rs. 462.95 and has touched a high and low of Rs. 464.85 and Rs. 458.75 respectively. So far 8650 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 544.00 on 05-Jan-2016 and a 52 week low of Rs. 396.50 on 25-Aug-2015.

Last one week high and low of the scrip stood at Rs. 473.95 and Rs. 430.80 respectively. The current market cap of the company is Rs. 9147.00 crore.

The promoters holding in the company stood at 60.72% while Institutions and Non-Institutions held 19.77% and 17.66% respectively.

Biocon, Asia's premier biopharmaceuticals company, has received European approvals for its Rosuvastatin Calcium 5 mg, 10 mg, 20 mg and 40 mg tablets, a generic equivalent of Crestor tablets, indicated for hyperlipidemia or mixed dyslipidemia. This first generic formulations approval in the regulated markets marks an important milestone in Biocon's small molecules strategy of forward integration from APIs to finished dosages.

The approval for Rosuvastatin Calcium, through decentralized procedure will open the doors for Biocon to over 15 European countries and will enable the company to address US$ 1.2 billion opportunity, starting FY17.  Biocon was the first generic company to receive a Certificate of Suitability (CEP) for Rosuvastatin Calcium API from the European Directorate for the Quality of Medicines (EDQM). A CEP certification indicates that an API is suitable for use in medicinal products in the EU.

Biocon aims to rev up its generic formulations business with a target of 20-25 filings over the next few years. Its new potent oral solid dosage formulations facility coming up in Bengaluru will enable this business expansion. The company is also working on dossiers to introduce these formulations in A  emerging markets where regulatory clearances are primarily based on approvals given by regulators in the US / EU.

Biocon Share Price

358.50 0.30 (0.08%)
20-Apr-2026 16:59 View Price Chart
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