Latest news with #BioconBiologics
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Business Standard
6 days ago
- Business
- Business Standard
Biocon launches Rs 4,500-crore QIP; to issue 11.6% of equity base
Bengaluru-based biopharmaceutical firm Biocon on Monday launched a qualified institutions placement (QIP) to raise Rs 4,500 crore. As part of the offering, the firm will issue up to 139 million new shares — 11.6 per cent of its current outstanding equity base. The floor price for the QIP has been set at Rs 323.2. Shares of Biocon last closed at Rs 357.3, valuing the firm at Rs 42,900 crore. The issuance price will be finalised on Thursday, while trading in the new shares will commence from Tuesday. This comes after the company's board had approved the raising of funds by way of QIPs for an aggregate amount of up to Rs 4,500 crore on 23 April. The move received shareholder approval on 4 June through postal ballot. Biocon will use the QIP proceeds to purchase outstanding optionally convertible debentures issued by subsidiary Biocon Biologics. It will also use the proceeds to repay outstanding debt and for general corporate purposes. In the same call, Biocon Chief Executive Officer (CEO) and Managing Director Siddharth Mittal added that the first tranche was expected to be completed by mid-June. 'The proceeds of the fund will primarily be used to meet financial obligations towards the commitments and the put options from the structured debt that we had from the investments in Biocon Biologics,' he said. In an interview last month, Biocon Executive Chairperson Kiran Mazumdar-Shaw had also stated that their goal was to complete the fundraising within three to four months. BofA Securities, Kotak Mahindra and Goldman Sachs are the investment bankers handling the share sale, according to the company's regulatory filing. The company's announcement came after market hours. On Monday, Biocon's shares went up marginally by 0.52 per cent, closing the day's trade at Rs 357.30.
Business Upturn
09-06-2025
- Business
- Business Upturn
Biocon launches BioWISE program to empower women in STEM across Karnataka
By Aditya Bhagchandani Published on June 9, 2025, 17:01 IST Biocon Foundation, the CSR arm of Biocon Group, has announced the launch of its new BioWISE (Women in STEM Empowered) program in partnership with the National Centre for Biological Sciences (NCBS) and the Bengaluru Science and Technology (BeST) Cluster. The initiative aims to support 25 women science students from tier 2 and 3 universities across Karnataka to build careers in life sciences through internships, mentorships, and training. This first-of-its-kind program will support 15 postgraduate and 10 undergraduate students from underserved communities, offering six-month and three-month mentorship and hands-on exposure respectively. The initiative is structured to include lab visits, bio-incubation centre tours, soft skills training, and continuous mentor-mentee sessions with experts from Biocon Biologics, NCBS, and other partner institutions. Chairperson Dr. Kiran Mazumdar-Shaw emphasized that empowering women in STEM is a strategic investment in India's future. The program will be hosted at NCBS, while BeST Cluster will oversee design and implementation. Biocon Biologics will also provide professional mentorship. The launch event witnessed participation from various dignitaries and scientists, with all stakeholders committing to building an inclusive scientific ecosystem that ensures equitable access to research, education, and opportunity. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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Business Standard
26-05-2025
- Business
- Business Standard
Biocon share rises as arm secures UK MHRA nod for plaque psoriasis drug
Biocon share price: Bengaluru-based pharmaceutical company Biocon shares rose as much as 1.14 per cent to hit an intraday high of ₹334.45 per share on Monday, May 26, 2025. At 9:36 AM, Biocon share price was trading 0.73 per cent higher at ₹333.05 per share. In comparison, BSE Sensex was trading 0.79 per cent higher at 82,363.10 level. Why did Biocon share price rise on Monday? Biocon share price rose after the company announced that Biocon Biologics, a fully integrated global biosimilars company and subsidiary of Biocon Ltd, has been granted market authorisation in the UK for Yesintek, a biosimilar of Ustekinumab, from the Medicines and Healthcare products Regulatory Agency (MHRA), UK. Yesintek is approved for the treatment of adults and children aged 6 years and older with moderate to severe plaque psoriasis, as well as adults with active psoriatic arthritis or moderately to severely active Crohn's disease. Clinical trials have shown that our Ustekinumab biosimilar delivers comparable safety and efficacy to the reference product. In Europe, the European Commission (EC) has recently granted marketing authorisation for Yesintek, enabling its commercialisation across all European Union (EU) member states and countries in the European Economic Area (EEA). Biocon Q4 results Biocon reported a 153 per cent year-on-year (Y-o-Y) jump in consolidated net profit to ₹344 crore for the fourth quarter of FY25, up from ₹136 crore in the same period last year. The company's profit before tax (PBT) rose 53 per cent Y-o-Y to ₹487 crore. Total consolidated revenue for the quarter stood at ₹4,454 crore, compared to ₹3,966 crore in Q4 FY24. Ebitda increased 16 per cent to ₹1,115 crore, with the Ebitda margin maintained at 25 per cent. The strong quarterly performance was driven by robust growth across its generics, biologics, and research services segments. Biocon's Board has also approved a proposal to raise up to ₹4,500 crore through various instruments, including qualified institutional placement (QIP), rights issue, or other permissible routes. READ MORE About Biocon Biocon is among the leading global biopharmaceutical companies committed to delivering affordable, high-quality medicines and innovative therapies for chronic and complex diseases such as diabetes, cancer, and autoimmune disorders. Operating in over 120 countries, Biocon has established a robust international presence. The company is a major player in the biosimilars segment, producing cost-effective alternatives to complex biologics like human insulin and insulin glargine.
Business Upturn
25-05-2025
- Health
- Business Upturn
Biocon Biologics receives UK MHRA approval for YESINTEK, Biosimilar Ustekinumab
By Aman Shukla Published on May 25, 2025, 14:12 IST Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd., has announced that the UK's Medicines and Healthcare products Regulatory Agency (MHRA) has granted marketing authorisation for YESINTEK®, a biosimilar of Ustekinumab. YESINTEK® is approved for use in adults and children aged 6 years and older with moderate to severe plaque psoriasis. It is also indicated for adults with active psoriatic arthritis and moderately to severely active Crohn's disease. The approval follows clinical trials that demonstrated comparable safety and efficacy between YESINTEK® and the reference biologic product. This outcome supports the use of YESINTEK® as a treatment option aligned with current therapeutic standards. The MHRA authorisation enables the marketing of YESINTEK® in the United Kingdom. In parallel, Biocon Biologics also recently received marketing authorisation for Ustekinumab from the European Commission (EC), which allows its commercialisation across all European Union (EU) member states and countries in the European Economic Area (EEA). Biocon Biologics continues its efforts to expand access to biosimilar medicines in regulated markets through strategic approvals and product launches. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Standard
22-05-2025
- Business
- Business Standard
Biocon Biologics gets six-month extension of insulin supply in Malaysia
Biocon arm Biocon Biologics Limited (BBL) said in a statement that the Malaysian Ministry of Health has extended the insulin supply contract with the company. 'Biocon Biologics is pleased to inform that the Government of Malaysia has agreed to extend the current contract period of 36 months under the existing insulin supply agreement with its subsidiary in Malaysia, Biocon Sdn. Bhd., and Duopharma Marketing Sdn. Bhd. (DMktg), for an additional six (6) months, effective from 29 April 2025 until 28 October 2025,' said a company spokesperson. Biocon Biologics further stated that it has been the Ministry of Health's partner of choice for insulin supply in Malaysia for nearly a decade. Its recombinant human insulin products are manufactured at a state-of-the-art facility in Johor and distributed via commercial partner DMktg. The current supply contract runs through April 2025. The amendment to the contract will be formalised through a supplementary agreement between the Ministry of Health (MoH), Duopharma Marketing (DMktg), and Biocon. Biocon Biologics said it remains committed to providing affordable access to life-saving insulins for people with diabetes in Malaysia and globally. The company has been supplying insulin products to Malaysia for over a decade. Additionally, it operates an integrated insulin manufacturing facility in Johor, in southern Malaysia. Biocon Biologics received US Food and Drug Administration (FDA) approval for this facility earlier this year, in January. Let me know if you'd like a version tailored for social media, a press note, or infographic format.
