Biocon is currently trading at Rs. 307.80, up by 1.00 points or 0.33% from its previous closing of Rs. 306.80 on the BSE.
The scrip opened at Rs. 313.45 and has touched a high and low of Rs. 321.50 and Rs. 307.80 respectively. So far 98,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 329.35 on 07-Dec-2011 and a 52 week low of Rs. 208.10 on 04-Jun-2012.
Last one week high and low of the scrip stood at Rs. 321.50 and Rs. 290.00 respectively. The current market cap of the company is Rs. 6,156.00 crore.
The promoters holding in the company stood at 60.96% while Institutions and Non-Institutions held 15.41% and 23.63% respectively.
Biocon, Asia’s premier biotechnology company, has entered into an option agreement with Bristol-Myers Squibb for the company’s IN-105, an oral insulin drug candidate. Under the terms of agreement, Bristol-Myers Squibb will have the right to exercise an option to obtain an exclusive worldwide license to the program. Biocon will conduct clinical studies to further characterize IN-105’s clinical profile according to a pre-agreed development program up to the completion of Phase II.
Besides, if Bristol-Myers Squibb exercises its option to license IN-105 following the successful completion of the Phase II trial, Bristol-Myers Squibb will assume full responsibility for the development program, including all development and commercialization activities outside India.
Further, Biocon will receive a license fee in addition to potential regulatory and commercial milestone payments and royalties on commercial sales of IN-105 outside India. Biocon will retain exclusive rights to IN-105 in India.
Biocon is India’s premier biotechnology company with a strategic focus on biopharmaceuticals and research services. Biocon produces anti-diabetic agents like Acarbose, Pioglitazone, Repaglinides and Rosiglitazone. In the biological segment it produces Insulin, Erythropoietin (EPO), Filgrastim (GCSF), Streptokinase and Monoclonal Antibodies.
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