Biocon gains on forming JV with Abu Dhabi firm
Biocon rose 1.3% to Rs 378 after the company entered into a joint-venture with Neopharma, a Abu Dhabi-based pharmaceutical company, to manufacture and market a range of bio-pharmaceuticals for the Gulf Cooperation Council (GCC) countries.
84,787 shares changed hands in the counter on BSE.The scrip had bounced back from lower level over the past few days. From a low of Rs 353 on 22 December 2006, it surged 5.8% to Rs 373.65 by 4 January 2007.
The joint venture would leverage the position of Neopharma in the region and would expand Neopharmas existing portfolio with a range of Biocon's generic and novel therapeutics that encompass diabetes, CVS, oncology, auto-immune and immunosuppressive drugs, Biocon said in a statement.
Biocon is a leading biopharmaceutical company with strong R&D capabilities in fermentation technology, biotechnology and drug discovery. The company is a pioneer and leader in production of biopharmaceuticals through the fermentation route. The company's mainstay continues to be bio-pharmaceuticals.
Biocon is currently going through a transition phase from being a generic company to a discovery led life science company. Biocon sees statins sales to the US and Europe as a major growth driver in the short term.
Biocon has acquired all intellectual property assets of its bankrupt US research partner Nobex Corporation some time back.
Late last month, Biocon completed the Phase IV clinical trials for its insulin drug, Insugem. The company said, compared to other insulin preparations, Insugem has not shown any untoward, unanticipated adverse effects qualitatively and quantitatively in routine clinical practice. PMS or Phase IV studies are done as part of regulatory requirement, to know primarily the safety of the drug in addition to the efficacy of the drug. Phase IV studies the usage of drug by large populations and in natural settings unlike Phase III, where the drug is tested in a controlled environment.
Biocon’s net profit rose 2% in Q2 September 2006 to Rs 36 crore, on 23% growth in net sales to Rs 219.10 crore.
84,787 shares changed hands in the counter on BSE.The scrip had bounced back from lower level over the past few days. From a low of Rs 353 on 22 December 2006, it surged 5.8% to Rs 373.65 by 4 January 2007.
The joint venture would leverage the position of Neopharma in the region and would expand Neopharmas existing portfolio with a range of Biocon's generic and novel therapeutics that encompass diabetes, CVS, oncology, auto-immune and immunosuppressive drugs, Biocon said in a statement.
Biocon is a leading biopharmaceutical company with strong R&D capabilities in fermentation technology, biotechnology and drug discovery. The company is a pioneer and leader in production of biopharmaceuticals through the fermentation route. The company's mainstay continues to be bio-pharmaceuticals.
Biocon is currently going through a transition phase from being a generic company to a discovery led life science company. Biocon sees statins sales to the US and Europe as a major growth driver in the short term.
Biocon has acquired all intellectual property assets of its bankrupt US research partner Nobex Corporation some time back.
Late last month, Biocon completed the Phase IV clinical trials for its insulin drug, Insugem. The company said, compared to other insulin preparations, Insugem has not shown any untoward, unanticipated adverse effects qualitatively and quantitatively in routine clinical practice. PMS or Phase IV studies are done as part of regulatory requirement, to know primarily the safety of the drug in addition to the efficacy of the drug. Phase IV studies the usage of drug by large populations and in natural settings unlike Phase III, where the drug is tested in a controlled environment.
Biocon’s net profit rose 2% in Q2 September 2006 to Rs 36 crore, on 23% growth in net sales to Rs 219.10 crore.
posted by SY at 3:51 PM
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