Biocon shares jump 5% on launch of diabetes drug in US

As per a regulatory filing on BSE, Biocon Biologics India, a subsidiary of Biocon, and Mylan N.V., announced the US launch of Semglee.

Shares of Biocon jumped over 5 percent in morning trade on BSE on September 1, a day after the company announced the launch of a diabetes drug in the US market.

As per a regulatory filing on BSE, Biocon Biologics India, a subsidiary of Biocon, and Mylan N.V., announced the US launch of Semglee™ (insulin glargine injection) in a vial and pre-filled pen presentations, approved to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes.

It is not recommended for the treatment of diabetic ketoacidosis. Semglee, which received final approval from the US Food and Drug Administration (FDA), has an identical amino acid sequence to Sanofi’s Lantus® and is approved for the same indications, the BSE filing said.

Kiran Mazumdar-Shaw, Executive Chairperson, Biocon said: “The commercialization of our insulin glargine in the US represents another milestone achievement for Biocon in making insulin-based therapy increasingly accessible for people with diabetes globally."

"We are confident that along with our long-standing partner Mylan, we will be able to address the needs of millions of patients living with diabetes in the US Leveraging our science and global scale manufacturing expertise, we have been expanding affordable access to biosimilar insulins to patients in Japan, Australia, Europe, India and key emerging markets. The US launch of Semglee takes us closer to realizing our aspiration of reaching ‘one in five’ insulin dependent people with diabetes worldwide.”

Shares of Biocon traded 5.10 percent up at Rs 395.60 on BSE at 11:00 hours.

Comments

Ashoka Buildcon share price up 4% on bagging 2 NHAI projects

The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Ashoka Buildcon share price added over 4 percent in early trade on September 8 after the company emerged as the lowest bidder (L-1) for the two NHAI projects. The aggregate quoted value of the projects is Rs 1,390 crore. The company had submitted bids to National Highway Authority of India (NHAI) for the project of four laning of Arra h to Pararia section of NH-319(Old NH-30) in the State of Bihar under Bharatmala pariyojana Phase -1 on EPC Mode (Package-I) and Four laning of Pararia to Mohania section of NH-319(Old NH-30) in Bihar under Bharatmala Pariyojana Phase-I on EPC Mode (Package II). At 09:23 hrs Ashoka Buildcon was quoting at Rs 70.60, up Rs 2.40, or 3.52 percent on the BSE. The share touched its 52-week high Rs 127.90 and 52-week low Rs 37.00 on 23 September, 2019 and 03 April, 2020, respectively. Currently, it is trading 44.8 percen...

Reliance Jio Q3 results: Profit grows to Rs 3,489 crore; ARPU rises to Rs 151

The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. Reliance Jio, the telecommunications arm of Jio Platforms, on January 22 posted a net profit of Rs 3,489 crore for the quarter ended December 31, 2020. The profit was higher than the street expectations as analysts in a CNBC-TV18 poll had estimated the number at Rs 3,200 crore. Jio's net profit grew 15.5 percent QoQ as in the September quarter of FY21, its profit was Rs 3,020 crore. The average revenue per user (ARPU) during the quarter came at Rs 151 per subscriber per month as against Rs 145 per subscriber per month in the September quarter. A CNBC-TV18 poll had estimated ARPU at Rs 148.2. Revenue, including access revenues for the quarter, was Rs 22,858 crore ($3.1 billion), up 5.3 percent QoQ. A CNBC-TV18 poll had estimated revenue to the tune of Rs 18,165 crore. EBITDA for the quarter stood at Rs 8,483 crore ...

Info Edge share price gains after Q1 profit surges 149% YoY

The company reported consolidated net profit at Rs 93.66 crore which surged 149 percent as compared to Q1FY20 when it reported loss of Rs 190.91 crore. Info Edge share price gained over 2 percent in the morning trade on September 8, a day after the company declared its Q1 results. The company reported consolidated net profit at Rs 93.66 crore, which surged 149 percent, as compared to Q1FY20, when it reported loss of Rs 190.91 crore. The net profit margin in Q1FY21 came in at 32.86 percent which jumped by 92.58 percent YoY. Consolidated net revenue in Q1FY21 stood at Rs 285 crore, which fell by 10.85 percent YoY from Rs 319.7 crore in Q1FY20. Its EBITDA stood at Rs 104 crore in Q1FY21 which jumped 16.62 percent YoY. The stock price gained 62 percent in the last 1 year and was trading at Rs 3,370.35, up Rs 78.45, or 2.38 percent. It has touched an intraday high of Rs 3,400.00 and an intraday low of Rs 3,363.05. According to Moneycontrol SWOT Analysis powered by Trendlyne, F...

SD Solutions

Search This Blog