{"id":120176,"date":"2024-03-04T13:14:26","date_gmt":"2024-03-04T07:44:26","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=120176"},"modified":"2024-03-04T14:01:48","modified_gmt":"2024-03-04T08:31:48","slug":"pharma-stock-jumps-4-after-company-enters-into-the-canadian-market","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pharma-stock-jumps-4-after-company-enters-into-the-canadian-market\/","title":{"rendered":"Pharma stock jumps 4% after company enters into the Canadian market\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-41543258\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of this pharmaceutical company under the \u2018mid-cap\u2019 category gained up to 4 percent in Monday\u2019s trading session after the company\u2019s subsidiary secured the entry date for its product in the Canadian market.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1636235190\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>With a market capitalization of Rs 33,586.79 crores, the stocks of Biocon Limited started their trading session on Monday at Rs 277.45 and currently trade at Rs 279.75. The company\u2019s scrip witnessed an intra-day high of Rs 287.25 indicating a gain of around 4 percent compared to the previous close of Rs 276.85 apiece.\u00a0<\/p><p>Such bullish stock price movements were observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), intimated about \u201cBiocon Biologics Limited\u201d (BBL), an integrated biosimilars company and a subsidiary of Biocon Limited, securing the entry date for its product in the Canadian market.&nbsp;<\/p><p>The subsidiary company announced signing a settlement with \u2018Bayer Inc.\u2019 and \u2018Regeneron Pharmaceuticals Inc\u2019 paving the way for the introduction of \u201cYESAFILI\u201d, a proposed biosimilar to \u201cEYLEA\u201d Injection, into the Canadian market.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2054383688\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Under the terms of the agreement, it has secured a launch date for YESAFILI 2 mg NDS, for vials and prefilled syringes, set no later than July 1st, 2025.&nbsp;<\/p><p>As per the recent presentations for the December 2023 quarter, the company\u2019s total revenue grew 50 percent YoY to Rs 4,519 crores. In addition, the company received its generic product approval in China for \u2018Mycophenolate Sodium\u2019.&nbsp;<\/p><p>The company has also made investments in its new platform capabilities and capacities for future growth. For the coming years, the company\u2019s prime focus stays on strengthening its Balance Sheet as well as reducing its debt levels.&nbsp;<\/p><p>During the recent financial quarters, the company\u2019s basic business parameters, viz, operating revenues as well as after-tax profits, showed a stellar performance with the former increasing from Rs 3,462 crores during Q2FY24 to Rs 3,954 crores during Q3FY24 and the latter, keeping the timeframe the same, rose sharply from Rs 173 crores to Rs 753 crores.&nbsp;<\/p><p>Founded in 1978, Biocon Limited is a biopharmaceutical company that is engaged in the business of developing biotechnology therapies for diseases. The company focuses on<\/p><p>developing, manufacturing, and supplying novel as well as biosimilar pharmaceuticals for cancer, diabetes, and autoimmune conditions.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-986242528\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_3_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"2969612066\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p><strong>Written by Amit Madnani&nbsp;<\/strong><\/p><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-945361831\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of this pharmaceutical company under the \u2018mid-cap\u2019 category gained up to 4 percent in Monday\u2019s trading session after the company\u2019s subsidiary secured the entry date for its product in the Canadian market.&nbsp; With a market capitalization of Rs 33,586.79 crores, the stocks of Biocon Limited started their trading session on Monday at Rs 277.45 [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":111747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,13525],"tags":[],"class_list":["post-120176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-stock-updates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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