The Japanese Glargine market is estimated to be around $144 million, Biocon said in a statement
The stock was trading higher by 3% at Rs 732 on the National Stock Exchange at 09:27 AM.
Its huge R&D spending on biosimilars, despite investor apathy, has started to show results
The drug has been jointly developed with US-based QuarK Pharmaceuticals
The companies also announced the randomisation of the first patient in India in the global Phase II/III study of the new drug candidate
Since April 26, post March quarter results, the stock rallied 30% as compared to 3% rise in the S&P BSE Sensex
Trastuzumab is indicated for treatment of a type of breast cancer, Biocon said
HDFC Bank, Asian Paints, City Union Bank, Grasim Ind, IndusInd Bank, Pidilite Ind and Supreme Ind hit record highs
Biosimilars in trial stages; once approved, these can lead to much larger gains
Amount of Rs 268 crore, allocated for research earlier, was shown as income after inking pact for rh insulin with Mexico-based firm
Q4 profit up 79% to Rs 361 crore; invests more on R&D
With expected filings of four insulin products in the current financial year, analysts have started upgrading their earnings estimates for the company
The stock up 9% to Rs 533 on the BSE, trading close its 52-week high of Rs 544 touched on January 5.
Ties up with Mexico's PiSA for the insulin to tap the $2-billion US market