Boost For India’s Generic Pharma Majors
Biocon, Dr Reddy’s and Mankind Pharma stress on development and manufacturing of biological drugs, look to cash in on a growing market.
Biocon, Dr Reddy’s and Mankind Pharma stress on development and manufacturing of biological drugs, look to cash in on a growing market.
Biocon Biologics, a subsidiary of Biocon, has signed a distribution agreement with Sandoz for an immunity-linked injection in Japan.
Post listing, Concord Biotech shares gained 26.2% to hit a high of ₹934.90 on the BSE, while it touched a high of ₹925.90 on the NSE, up 25% against the IPO price.
Biocon declared a dividend of ₹1.50 per share for FY23, which includes payout on account of one-time exceptional gains arising from partial monetisation of its holdings in Syngene
Biocon shares declined as much as 2.4% to ₹262.40 on Wednesday, hitting its lowest level since November 2019.
India’s pharma industry is reimagining itself. This is not just borne out of the necessities brought forth by the pandemic, but is a blueprint to thrive and to succeed in this new world.
Abu Dhabi-based sovereign wealth fund ADQ has picked up 1.80% stake in Biocon Biologics for $75 million; The company already raised $255 million from global marquee investors last year.