In a significant market movement, Biocon Ltd. (NSE: BIOCON) witnessed a substantial block trade on the National Stock Exchange (NSE) today. The transaction involved approximately 788,078 shares of the biopharmaceutical company, valued at Rs. 31.00 crores.

Block Trade Details

The block trade, which refers to a large, privately negotiated securities transaction, was executed at a price of Rs. 393.30 per share. This price point provides insight into the current market valuation of Biocon's stock by institutional investors or large shareholders.

Market Impact

Block trades of this magnitude often attract attention from market participants as they can indicate shifts in institutional holdings or significant shareholder movements. While the identities of the buyer and seller in this transaction remain undisclosed, such trades can sometimes influence market sentiment and potentially impact short-term stock price movements.

About Biocon Ltd.

Biocon Ltd. is a prominent Indian biopharmaceutical company known for its innovative work in developing affordable medicines across various therapeutic areas. The company has made significant strides in biosimilars, generic formulations, and novel biologics.

Conclusion

This block trade represents a notable transaction in Biocon's shares, potentially reflecting investor interest or strategic moves within the pharmaceutical sector. As always, investors are advised to conduct their own research and consider multiple factors when making investment decisions.

Biocon Ltd , a leading biopharmaceuticals company, has achieved a significant milestone in its diabetes care portfolio. The U.S. Food and Drug Administration (FDA) has approved Kirsty™ (Insulin Aspart-xjhz), marking it as the first and only interchangeable biosimilar to NovoLog® (Insulin Aspart) in the United States.

Key Highlights

• Kirsty™ is a rapid-acting human insulin analog for diabetes treatment.
• It's the first interchangeable biosimilar to NovoLog® in the US market.
• The drug is already available in the European Union and Canada.
• Analysts project annual sales of $80-100 million post-formulary addition.

Expanding Diabetes Care Portfolio

Biocon Biologics Ltd (BBL), a subsidiary of Biocon Ltd, announced that Kirsty™ has been approved as a 100 units/mL formulation. This approval expands Biocon's biosimilar insulin portfolio, which already includes Semglee® (Insulin Glargine-yfgn Injection), another FDA-approved interchangeable biosimilar.

Availability and Usage

Kirsty™ will be available in two forms:

1. Single-patient-use prefilled pen for subcutaneous use
2. Multiple-dose vial for both subcutaneous and intravenous use

The drug is indicated to improve glycemic control in both adult and pediatric patients with diabetes mellitus.

Market Impact

Shreehas Tambe, CEO & Managing Director of Biocon Biologics Ltd., emphasized the significance of this approval: "The FDA approval of Kirsty™ is a significant step forward in our efforts to make insulin more accessible and affordable. It builds on the foundation we laid with Semglee®, reinforcing our commitment to scientific excellence and patient-centric innovation."

With 38.4 million people living with diabetes in the United States, representing approximately 11.6% of the total population, the need for affordable insulin options is crucial. The U.S. market for Insulin Aspart was valued at approximately $1.9 billion, according to IQVIA data.

Biocon's Position in the Global Insulin Market

Biocon Biologics has established itself as a global leader in biosimilars and insulin production:

• Among the top three global players for rh-Insulin and Insulin Glargine
• Provides over 9.2 billion doses of insulin globally
• Serves more than 5.8 million patients annually
• Has a comprehensive portfolio of in-market and in-development biosimilar products

This latest approval further solidifies Biocon's position in the diabetes care market and demonstrates its commitment to providing affordable, high-quality treatment options for patients worldwide.

Safety Information

As with all insulin products, healthcare providers and patients should be aware of potential risks, including hypoglycemia, hyperglycemia, and allergic reactions. Biocon advises never to share Kirsty™ prefilled pens, needles, or syringes between patients, even if the needle is changed, to prevent the potential transmission of blood-borne pathogens.

The approval of Kirsty™ represents a significant advancement in diabetes care, offering patients in the United States a new, interchangeable option for rapid-acting insulin. As Biocon continues to expand its portfolio and global reach, it remains focused on its mission to improve accessibility and affordability of critical medications for chronic conditions like diabetes.