Biocon rises on plan to launch anti-cholesterol drug in US market

12 Mar 2012 Evaluate

Biocon is currently trading at Rs. 270.00, up by 1.55 points or 0.58% from its previous closing of Rs. 268.45 on the BSE.

The scrip opened at Rs. 270.00 and has touched a high and low of Rs. 274.00 and Rs. 268.00 respectively. So far 6519 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 390.05 on 27-Apr-2011 and a 52 week low of Rs. 240.10 on 20-Dec-2011.

Last one week high and low of the scrip stood at Rs. 287.65 and Rs. 261.50 respectively. The current market cap of the company is Rs. 5401.00 crore.

The promoters holding in the company stood at 60.91% while Institutions and Non-Institutions held 13.95% and 25.13% respectively. 

Biocon, Asia's premier biotechnology company, is all set to tap the US markets as the company is planning to sell its anti-cholesterol drug- atorvastatin- in the US from Financial Year (FY) 2013.

The US market for atorvastatin has recently opened up for generic companies. Further, the company plans to follow Watson and Ranbaxy, which have already launched their products in the markets and are currently under six months exclusivity phase.

The company has seen a significant growth in branded atorvastatin (Statix) as well as sales of active pharmaceutical ingredients (API). Similarly, Biocon is also planning to tap the European market, where it is currently selling atorvastatin with its partners. Biocon has major presence in emerging and unregulated markets with its branded atorvastatin (Statix).

Biocon is Asia’s leading R&D based Biotechnology Company. It 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. The drug major also produces mycophenolate mofetil, sirolimus and tacrolimus.

Biocon Share Price

316.15 -4.65 (-1.45%)
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