The biosimilar trastuzumab, to be sold under the brand name Ogivri in the US, will be manufactured by Biocon and marketed by Mylan. This product approval has significantly improved Biocon’s earnings outlook and also increased optimism of the company getting USFDA nod for biosimilar pegfilgrastim and insulin glargine in future, analysts said. Biocon shares closed at Rs513.55, up 15%, on the BSE, while benchmark Sensex index was up 0.3% at 32,930.18 points. The biosimilar trastuzumab or Ogivri is one of the six biologic products co-developed by the companies. In October, the USFDA had issued a complete response letter (CRL) for Biocon and Mylan’s application for biosimilar pegfilgrastim seeking certain data before the product gets an approval.

Source: Mint December 04, 2017 05:15 UTC