{"id":121442,"date":"2024-03-28T13:16:01","date_gmt":"2024-03-28T07:46:01","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=121442"},"modified":"2024-03-28T13:55:49","modified_gmt":"2024-03-28T08:25:49","slug":"pharma-stock-jumps-3-after-becoming-the-1st-company-to-get-approval-for-diabetes-drug-in-uk","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pharma-stock-jumps-3-after-becoming-the-1st-company-to-get-approval-for-diabetes-drug-in-uk\/","title":{"rendered":"Pharma stock jumps 3% after becoming the 1st company to get approval for diabetes drug in UK\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3441843749\"><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 mid-cap pharma stock jumped approximately 3 percent in Thursday\u2019s trading session after becoming the first \u2018Generics\u2019 company to receive approval for a \u2018Diabetes\u2019 Drug in the United Kingdom. In the past year, the company\u2019s stock has gained more than 30 percent for its holders.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3294049247\"><!-- 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 31,713.85 crores, the stocks of Biocon Limited opened their trading hour on Thursday at Rs 257.55 and currently trades at Rs 264.15, gaining around 3 percent as compared to the previous closing levels of Rs 256.60 apiece.&nbsp;<\/p><p>Such bullish share price movements were observed today after the company, through a regulatory filing with the Bombay Stock Exchange (BSE), made a key announcement, viz, the pharma company receiving approval from the \u201cMedicines and Healthcare Products Regulatory Agency\u201d (MHRA), United Kingdom for a complex formulation named \u201cLiraglutide\u201d.&nbsp;<\/p><p>Liraglutide is a drug-device combination formulation that is generally used for the treatment of Type-2 Diabetes Mellitus.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2392162370\"><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>The application for approval of the complex formulation mentioned above was filed through its European partner, viz, Zentiva. Zentiva is engaged in the business of developing, manufacturing, and delivering affordable and high-quality medicines to more than 100 million people in Europe.&nbsp;<\/p><p>\u201cThe approval of Liraglutide, a vertically integrated product, is an important milestone for us. Being the first generic Liraglutide approved in a major regulated\/ICH market, it strengthens our leadership in delivering many \u2018firsts\u2019 on complex drug products\u201d, <strong>commented Mr. Siddharth Mittal, CEO and MD, Biocon Limited<\/strong>.&nbsp;<\/p><p>During the recent financial quarters, the company\u2019s prime indicators of business, i.e., its operating revenues as well as after-tax profit figures, showed a stellar performance. The former rose from Rs 3,462 crores during Q2FY24 to Rs 3,954 crores during Q3FY24, and the latter, keeping the horizon the same, moved sharply from Rs 173 crores to Rs 753 crores.&nbsp;<\/p><p>Founded in 1978, Biocon Limited is a biopharmaceutical company that develops biotechnology therapies for diseases. It focuses on developing and supplying novel &amp; biosimilar pharma products for diabetes, autoimmune, and cancer conditions. It operates through four reportable segments, viz, Generics, Biosimilars, and Research Services.<\/p><p><strong>Written by Amit Madnani&nbsp;<\/strong><\/p><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><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-content-10\" id=\"trade-2686152353\"><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><div class=\"trade-after-content\" id=\"trade-2061415259\"><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 mid-cap pharma stock jumped approximately 3 percent in Thursday\u2019s trading session after becoming the first \u2018Generics\u2019 company to receive approval for a \u2018Diabetes\u2019 Drug in the United Kingdom. In the past year, the company\u2019s stock has gained more than 30 percent for its holders.&nbsp; With a market capitalization of Rs 31,713.85 crores, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":98971,"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-121442","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) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Pharma stock jumps 3% after becoming the 1st company to get approval for diabetes drug in UK\u00a0 - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Shares of this mid-cap pharma stock jumped approximately 3 percent in Thursday\u2019s trading session after becoming the first \u2018Generics\u2019 company to receive approval for a \u2018Diabetes\u2019 Drug in the United Kingdom.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/pharma-stock-jumps-3-after-becoming-the-1st-company-to-get-approval-for-diabetes-drug-in-uk\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pharma stock jumps 3% after becoming the 1st company to get approval for diabetes drug in UK\u00a0\" \/>\n<meta property=\"og:description\" content=\"Shares of this mid-cap pharma stock jumped approximately 3 percent in Thursday\u2019s trading session after becoming the first \u2018Generics\u2019 company to receive approval for a \u2018Diabetes\u2019 Drug in the United Kingdom.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/pharma-stock-jumps-3-after-becoming-the-1st-company-to-get-approval-for-diabetes-drug-in-uk\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-28T07:46:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-28T08:25:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/04\/pharma-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trade Brains\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trade Brains\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/pharma-stock-jumps-3-after-becoming-the-1st-company-to-get-approval-for-diabetes-drug-in-uk\/\",\"url\":\"https:\/\/tradebrains.in\/features\/pharma-stock-jumps-3-after-becoming-the-1st-company-to-get-approval-for-diabetes-drug-in-uk\/\",\"name\":\"Pharma stock jumps 3% after becoming the 1st company to get approval for diabetes drug in UK\u00a0 - 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