Biocon is in the limelight today, good limelight too. The stock opened in the green, up over 2% at Rs.270 and went on to an intra day high at Rs.277.60, up 5%.
The company announced today that its supplemental Biologics License Application (sBLA) for Pegfilgrastim Drug Substance to be manufactured at Biocon's new Biologics manufacturing facility has been approved by the USFDA.
This FDA approval will enable Biocon Biologics, a subsidiary of Biocon Ltd, and Mylan to scale up capacity multi-fold and address the growing market opportunities in the US and other global market.
The USFDA had conducted a Pre-Approval Inspection of this new Drug Substance manufacturing facility from September 9 to September 19, 2019.