Stocks

Biocon hits record high on EMA approval for cancer drugs

Reuters | Updated on January 09, 2018 Published on December 01, 2017

Biocon jumps to record high on EMA approval

Shares of Biocon hit a record high as the EU regulator has okayed the company's marketing applications for generic cancer drugs.

Biocon Ltd jumped as much as 3.6 per cent to touch a record high of Rs 447.60.

The company's partner Mylan N.V. had said on Thursday that the European Medicines Agency (EMA) had accepted the marketing authorisation applications for the proposed generic drugs trastuzumab, pegfilgrastim.

Trastuzumab is used as a treatment for breast and gastric cancers, while pegfilgrastim is used to bolster neutrophils, a kind of white blood cell, in cancer patients treated with chemotherapy.

Up to Thursday's close, the stock had risen 36.49 per cent this year.

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Published on December 01, 2017
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