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Biocon shares hit a record high as EMA has agreed to review Biocon-Mylan cancer drug.
The stock gained as much as 5.11 per cent to a record high of Rs 909.80.
It ended higher by 3.1 per cent at Rs 892.45 on the BSE.
European Medicines Agency had on Thursday accepted Biocon and US drugmaker Mylan’s regulatory submission for the proposed breast cancer drug.
The submission could lead to approval of the drug, and clearing for sales in Europe.
Mylan has exclusive commercialisation rights for the drug in the US, Canada, Japan, Australia, New Zealand, the European Union and European Free Trade Association countries, while Biocon has co-exclusive commercialisation rights with Mylan for the product in the rest of the world.
The stock was the top gainer on the S&P BSE Healthcare Index, which was up 0.5 per cent.
Welspun India
Welspun India shares ended lower after rising as much as 6.8 per cent earlier in the day.
The stock ended down by 8.64 per cent at Rs 49.70 on the BSE.
At Thursday’s low, Welspun had a market value of Rs 5,355 crore, nearly half the market value it had last Friday.
US retailer Target has accused Welspun of passing off cheap sheets as premium Egyptian cotton; Bed Bath & Beyond says it has ordered external audit.
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