Shares of Biocon Ltd rose 1% to the touch a day’s excessive of Rs 340 on third June. This improve got here after the corporate introduced it had acquired regulatory approval in India for its Liraglutide drug substance. In the meantime, its wholly owned subsidiary, Biocon Pharma, secured clearance for the drug product. The product is a 6 mg/ml answer for injection in pre-filled pens and cartridges.
Biocon acquired approval for a generic model of Victoza. Victoza is a GLP-1 drug used to deal with Sort 2 diabetes in adults, adolescents, and kids aged 10 and above.
The approval was granted beneath the CDSCO’s new 101 route. This route permits faster approvals based mostly on clearances from main international regulators.
GLP-1 medication, similar to Liraglutide, assist decrease blood sugar and assist weight reduction. Because of this, they’re efficient in managing Sort 2 diabetes.
Biocon’s CEO referred to as this a key step in increasing entry to GLP-1 therapies in India. This enlargement is essential the place over 77 million individuals reside with diabetes.
Biocon plans to launch the product in India by way of commercialisation companions.
The authorised drug might be out there as a 6 mg/ml answer in pre-filled pens and cartridges by way of Biocon Pharma.
At 12.02 PM, the shares of Biocon Ltd had been buying and selling 1.06% larger at Rs 337.55 on NSE.
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