The Pharma Company stock jumped up to 2.5 percent after it launched Yesintek Biosimilar in the United states which treats several diseases like Crohn’s disease and psoriatic arthritis.
Share Price Movement
With a market capitalization of Rs. 39,109 Crore, the stock of Biocon Limited opened at Rs. 324.05, up 1 percent from yesterday’s close, and after opening it made a high of 329 up 2.54 percent. Additionally, the Yearly return for the stock is 20 percent, and the past 5-year return is only 14 percent.
Update from Company
Biocon Biologics has launched Yesintek (ustekinumab-kfce) Biosimilar to Stelara in the United States. It is used for the treatment of Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis, increasing patient access to more cost-effective treatment options for use in the treatment of common chronic autoimmune diseases.
YESINTEK will have commercial payor coverage at launch and also have a robust patient assistance program that includes benefits verification, and copay support, among other services.
Company MD & CEO on the launch of YESINTEK says that this marks a significant step in our commitment to improving the lives of patients with inflammatory conditions and expanding access to high-quality biosimilars. It also represents their first product launch in the United States since becoming a fully integrated global biosimilars organization.
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Financial Highlights
The company reported a 3.32 percent YoY decrease in revenue from Rs. 3,953 Crore in Q3FY24 to Rs. 3,821.40 Crore in Q3FY25. On a QoQ basis, the company reported an increase of 6.42 percent in revenue from Rs. 3,590.40 Crore in the previous quarter.
Their Net profit saw a massive decrease of 89.23 percent YoY from Rs. 753.30 Crore to Rs. 81.10 Crore for the same period. On a QoQ basis, the company reported an increase of 66.58 percent in Net profit from Rs. 27.10 Crore in the previous quarter.
About the Company
Biocon Limited is a leading Indian biopharmaceutical company headquartered in Bangalore, specializing in biologics, biosimilars, and generic pharmaceuticals. Founded in 1978 by Kiran Mazumdar-Shaw, the company has grown into a global player with a strong presence in markets like the U.S., Europe, and emerging economies. Biocon operates through key segments, including small molecules, biosimilars, branded formulations, and contract research via its subsidiary, Syngene International.
Written By Abhishek Das
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