By Nishtha Awasthi
Copyright indiatimes
ETMarkets.comBiocon gets US FDA nod for two biosimilars; Q1 profit slumps.
Shares of Biocon surged 2% to a day’s high of Rs 361.25 on BSE on Thursday after its subsidiary, Biocon Biologics, received U.S. Food and Drug Administration (FDA) approval for two denosumab biosimilars, along with a provisional interchangeability designation that could pave the way for broader market adoption.On Wednesday, Biocon Biologics said the FDA cleared Bosaya (denosumab-kyqq) and Aukelso (denosumab-kyqq), biosimilars of Amgen’s Prolia and Xgeva, respectively. The regulator also granted provisional interchangeability for both drugs, permitting pharmacy-level substitution subject to state laws.Treatment scopeBosaya, a 60 mg/mL prefilled syringe for subcutaneous use, has been approved for treating postmenopausal women and men with osteoporosis at high risk of fracture, glucocorticoid-induced osteoporosis, and bone loss associated with cancer therapies.Aukelso, a 120 mg/1.7 mL single-dose vial, is indicated for preventing skeletal-related events in patients with multiple myeloma or bone metastases, as well as for giant cell tumour of bone and hypercalcaemia of malignancy unresponsive to bisphosphonate therapy.In the June quarter, Biocon reported a 95% year-on-year drop in net profit to Rs 31 crore. On a like-for-like basis, however, profit after tax rose 65% after adjusting for last year’s one-time gains from selling the metabolic, oncology, and critical care portfolio of its Branded Formulations India (BFI) business to Eris Lifesciences.Live EventsOn Wednesday, Biocon shares closed 1.6% lower at Rs 354.40 on the BSE, taking year-to-date losses to 4%.Also read | With gold prices at record highs, are gold loan lenders a better bet for your portfolio than jewellery makers?(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)Add as a Reliable and Trusted News Source Add Now!
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(You can now subscribe to our ETMarkets WhatsApp channel)Read More News onbsebioconbiocon sharesbiocon share pricebiocon stock pricebiocon usfdaosteoporosis drugsbone loss drugsUSFDA approvalBiocon Biologics(What’s moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price…moreless
