Biocon expands its Generic Formulations portfolio with the launch of Everolimus tablets in the US

Biocon Ltd (BSE code: 532523, NSE: BIOCON), an innovation-led global biopharmaceuticals company today announced the launch of Everolimus tablets, a generic version of Afinitor®, in the US.

Everolimus tablets have been introduced in four strengths of 2.5mg, 5mg, 7.5mg and 10mg, with the 10 mg tablet being a 'day-1' generic launch. Everolimus (Afinitor®) is a prescription medication that is used to treat certain types of cancers and tumours.

The commercial launch of Everolimus follows an US FDA approval in February 2021.

Siddharth Mittal, Chief Executive Officer & Managing Director, said, "The launch of Everolimus tablets is another important addition to our generics portfolio and underscores our commitment to bringing complex, vertically integrated and affordable generic formulations to the market expeditiously. We will continue our focus on innovation and enhancing capacities to launch new products that make affordable healthcare accessible to millions of patients the world over."

The Everolimus launch is further assertion of Biocon's strategy to focus on vertically integrated, complex Finished Dosage Formulations (FDF) in niche therapeutic areas, using in-house Active Pharmaceutical Ingredient (API) capabilities.

According to IQVIA, US sales of Everolimus (Afinitor®) tablets of 2.5mg, 5mg, 7.5mg, and 10mg strengths were approximately $675 million in the 12 months ending July 2021.

Afinitor® is a registered trademark of Novartis AG.

Shares of Biocon Ltd. was last trading in BSE at Rs. 365.15 as compared to the previous close of Rs. 362.85. The total number of shares traded during the day was 108439 in over 2884 trades.

The stock hit an intraday high of Rs. 367.2 and intraday low of 358.3. The net turnover during the day was Rs. 39397499.

Source : Equity Bulls

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