Biocon rises with arm bagging three year contract from Malaysian Health Ministry

Biocon Ltd. | Pharmaceuticals & Drugs | Healthcare | BSE: 532523 | NSE: BIOCON

25 Jan 2017 Evaluate

Biocon is currently trading at Rs. 1028.90, up by 30.50 points or 3.05% from its previous closing of Rs. 998.40 on the BSE.

The scrip opened at Rs. 1041.00 and has touched a high and low of Rs. 1049.00 and Rs. 1026.00 respectively. So far 39,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1052.05 on 12-Jan-2017 and a 52 week low of Rs. 430.80 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 1049.00 and Rs. 971.00 respectively. The current market cap of the company is Rs. 20,600.00 crore.

The promoters holding in the company stood at 60.68%, while Institutions and Non-Institutions held 21.43% and 17.88% respectively.

Biocon’s subsidiary - Biocon SDN BHD, Malaysia, has been awarded a three year contract from the Ministry of Health (MoH), Malaysia, for supplying recombinant human insulin (rh-Insulin) formulations manufactured at its large scale biopharmaceutical facility in Johor, Malaysia. Biocon’s rh-Insulin is Malaysia’s first locally manufactured biosimilar biologic product approved by the National Pharmaceutical Regulatory Authority (NPRA), Malaysia, for commercial sales in the country. This marks the commercialization milestone of Biocon’s first overseas facility in Malaysia.

Biocon SDN. BHD. has been awarded a MYR 300 million (amounting Rs 460 crore) contract to be serviced over a period of three years for supplying rh-Insulin cartridges and re-usable insulin pens under the Malaysian government’s Off-Take Agreement (OTA) initiative, which seeks to encourage local manufacturing of new pharmaceutical products thus lowering the country’s reliance on imports and also enhancing the exports potential. The contract is extendable for additional two years subject to approval by the Government of Malaysia.

Biocon will distribute insulins and insulin delivery devices through CCM Pharmaceuticals, a leading local pharmaceutical player which has an extensive supply chain network to service primary healthcare clinics and hospitals across Malaysia.

Biocon Share Price

418.90 0.70 (0.17%)

02-Jul-2026 16:59 View Price Chart

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