The share of this pharma company jumps 2 percent after receiving approval for marketing authorization from the Medicines and Healthcare Products Regulatory Agency in the UK.
With a market capitalization of Rs. 27,295 crores, Biocon Ltd shares opened positively at Rs. 231 compared to its previous close at Rs. 227. The share hit a high at Rs. 231, gaining around 2 percent, and currently trading at Rs. 229 apiece.
In an exchange filing the company announced that Biocon Biologics Limited (BBL), a subsidiary of Biocon Ltd received a grant for marketing authorization for YESAFILI from the Healthcare Products Regulatory Agency in the UK.
YESAFILI is an ophthalmology product that is intended for the treatment of neovascular (wet AMD) age-related macular degeneration, visual impairment due to macular edema secondary to retinal vein occlusion (branch RVO or central RVO), visual impairment due to diabetic macular edema (DME) and visual impairment due to myopic choroidal neovascularisation (myopic CNV).
Looking at the financials, the company’s revenue marginally increased by 1.16 percent from Rs. 3,442 crores during the June quarter to Rs. 3,462 in the September quarter. In addition, the net profit increased by 23 percent from Rs. 101 crores to Rs. 125 crores during the same period.
Coming onto the important financial ratios, the return on equity(RoE) declined from 9.83 percent to 4.98 percent and the return on capital employed (RoCE) decreased from 8.3 percent to 5.37 percent.
According to the latest shareholding pattern, the Promoters have 60.64 percent stakes in the company, the Public or Retail Investors have 17.32 percent holdings, DIIs have a considerable stake of 14.07 percent, and the remaining 7.97 percent shares are with the FIIs.
Headquartered in Bangalore, Biocon Ltd is an Indian biopharmaceutical company. The company manufactures generic active pharmaceutical ingredients that are sold in approximately 120 countries, including the United States and Europe.
Written By Vaibhav Patil
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