{"id":124887,"date":"2024-05-24T14:43:03","date_gmt":"2024-05-24T09:13:03","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=124887"},"modified":"2024-05-24T16:00:52","modified_gmt":"2024-05-24T10:30:52","slug":"midcap-stock-jumps-4-after-company-signs-supply-agreement-with-korean-based-company","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/midcap-stock-jumps-4-after-company-signs-supply-agreement-with-korean-based-company\/","title":{"rendered":"Midcap stock jumps 4% after company signs supply agreement with Korean based company\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-521387041\"><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>Pharma Stock engaged in the business of manufacture and distribution of biotechnology products and research services jumped 4 percent in the day\u2019s trade upon signing a business agreement with Handok, a specialty pharmaceutical company in South Korea.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2474938627\"><!-- 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. 38,797 Crores, the shares of <strong>Biocon Limited<\/strong> were trading at Rs. 322.90, up 2.39 percent from its previous day\u2019s close price of Rs. 315.35.\u00a0<\/p><p><strong>Biocon Limited announced the signing of an exclusive licensing and supply agreement with Handok, a specialty pharmaceutical company in South Korea, for the commercialization of its vertically integrated, complex drug product, Synthetic Liraglutide.&nbsp;<\/strong><\/p><p>Under the terms of this agreement, Biocon will undertake the development, manufacturing and supply of the drug product, and Handok will be responsible for obtaining regulatory approval and commercialization in the South Korean market.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2443482484\"><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>Handok is amongst Korea\u2019s leading companies in the management of diabetes, offering a of solutions from diagnosis to treatment and care. The Company\u2019s diabetic portfolio includes products such as Amaryl, Tenelia, and the recently launched Barozen Fit, a real-time glucose monitoring device&nbsp;<\/p><p>Liraglutide is an injection in a pre-filled pen, used in the treatment of chronic weight management as an adjunct to a reduced-calorie diet and increased physical activity.&nbsp;<\/p><p>Siddharth Mittal, Chief Executive Officer and Managing Director, Biocon Ltd, said \u201cWe are pleased to enter into this strategic partnership with Handok, which will enable patients in South Korea dealing with weight management to gain access to our GLP-1 peptide drug product, Synthetic Liraglutide.&nbsp;<\/p><p>This also aligns with our commitment to expand our portfolio of innovative, affordable medicines to address the unmet needs of patients around the world. We look forward to leveraging Handok\u2019s strong capabilities to help patients in the region better manage their disease.\u201d&nbsp;<\/p><p>YoungJin Kim, Chairman of Handok, commented, \u201cLiraglutide is an important drug product for treating diabetes and obesity. Our collaboration with Biocon will enable Handok to expand its portfolio into the obesity sector, which will benefit patients and sharpen our competitive edge. We look forward to successfully launching and growing Liraglutide in the Korean market.\u201d<\/p><p>Biocon Limited is a Biopharmaceutical company engaged in the business of manufacture and distribution of biotechnology products and research services. Its segment includes Generics, Biosimilars, Novel Biologics and Research Services.&nbsp;<\/p><div class=\"trade-content-10\" id=\"trade-2767867206\"><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>Biocon Limited offers around 36 brands across therapeutic divisions which are diabetes, oncology, and immunology, some of its famous key brands are Insugen, Krabeva, and Alzumab.&nbsp;<\/p><p>Its Revenue from operations grew by 3.79 percent from Rs. 3,773.39 Crores in Q4FY23 to Rs. 3,917.1 Crores in Q4FY24, accompanied by profits of Rs. 414.5 Crores to Rs. 222.9 Crores.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by: Bharath K.S&nbsp;<\/strong><\/p><\/blockquote><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 <a href=\"http:\/\/tradebrains.in\/\">tradebrains.in<\/a> 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-4276439811\"><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>Pharma Stock engaged in the business of manufacture and distribution of biotechnology products and research services jumped 4 percent in the day\u2019s trade upon signing a business agreement with Handok, a specialty pharmaceutical company in South Korea.&nbsp; With a market capitalization of Rs. 38,797 Crores, the shares of Biocon Limited were trading at Rs. 322.90, [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":49884,"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":[4865,31,13525],"tags":[2460,18542,6895,6894,948,936,2597],"class_list":["post-124887","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","category-news","category-stock-updates","tag-biocon","tag-biocon-agreement","tag-biocon-latest-news","tag-biocon-share-price","tag-stock-market","tag-stock-market-news","tag-stocks-to-watch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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