Biocon jumps after inking deal with Sandos for distribution of FKB injection in Japan

Biocon Share Price: Biocon shares jumped in morning deals on BSE on Tuesday (December 26, 2023) in the first trading session after the company signed an agreement with Sandoz for the distribution of 'Adalimumab BS Subcutaneous Injection [FKB]' in Japan. 

The stock of Biocon was up by 1.10 per cent, or Rs 2.70, at Rs 248.90 on BSE on Tuesday.

"Based on this Agreement, Viatris has completed marketing and promotion of the product as of December 15, 2023, but will continue to provide transition support until Sandoz will gradually assume responsibilities for the product starting February 15, 2024," said Biocon in a statement on Friday.

Biocon Biologics has acquired the global biosimilars portfolio of Viatris including Adalimumab.

Fujifilm Kyowa Kirin Biologics Co. Ltd., the developer of the drug, has concluded an exclusive global marketing license agreement with Biocon Biologics Ltd affiliate.

Adalimumab BS for subcutaneous injection [FKB] is a biosimilar of  Humira® (generic name: adalimumab (genetical recombination)) and is indicated for immune-related diseases such as rheumatoid arthritis, psoriasis vulgaris, ankylosing spondylitis, Crohn's disease, and ulcerative colitis, Biocon said.

Biocon Share Price Performance

The stock of the company hasn't performed well as the year comes closer to end.

The share has slipped by 5.41 per cent year-to-date.

The  Nifty 50 benchmark, meanwhile, has jumped 17.81 per cent in the same period.