Biocon stock was higher by 9% at Rs. 490 after the USFDA approves biosimilar Trastuzumab, Ogivri for the treatment of HER2Positive breast cancer and Gastric cancers.
This is the first biosimilar Trastuzumab to be approved in the US and Biocon is the first Company from India to achieve this.
Dr. Arun Chandavarkar, CEO & Joint MD, Biocon, added: “This approval represents a landmark achievement for the Biocon-Mylan collaboration and is an important endorsement of our development and manufacturing capabilities in the area of monoclonal antibodies. I sincerely acknowledge the contribution of every member of our teams who made this happen. This is the first biosimilar trastuzumab to be approved by the U.S. FDA and opens the door to a high quality, more affordable option for the treatment of eligible cancer patients in the U.S.”