Biocon Shares Surge 2% Following Positive CHMP Opinion

Market Performance

Biocon's stock price increased by 2% in early trade on April 28, 2025. At 09:32 AM, shares were valued at Rs 319.05, reflecting a rise of Rs 7.05 or 2.26% on the Bombay Stock Exchange (BSE). The surge follows the company's subsidiary receiving favorable recommendations from the Committee for Medicinal Products for Human Use.

Main News

The CHMP, a committee within the European Medicines Agency, has given positive recommendations for Biocon BiolBiologics'osumabBiolBiologics' osumab biosimilar candidates. These include Vevzuo and Denosumab BBL, which are intended for bone health treatment. The recommendation comes after a thorough review of clinical data, verifying that the biosimilars match the reference product in safety, efficacy, and immunogenicity.

• The CHMP's positive opinion has paved the way for the European Commission to review these opinions.
• Following the review, official details on the approved indications and usage will be included in the European Public Assessment Reports (EPARs).

Company Details

Biocon is a leading global biotechnology company focused on biopharmaceuticals. Its subsidiary, Biocon Biologics, specializes in developing and producing biosimilars. The recent positive feedback from CHMP enhances the company's position in the European market for biosimilars, particularly in bone health treatments.

In addition to this milestone, the Biocon board approved raising Rs 4,500 crore through various funding mechanisms, such as equity shares and non-convertible debt instruments. This move is part of their strategy to fuel further growth and innovation in the biopharma space.

Summary of the Article

Biocon's share price experienced a notable rise following the announcement of positive opinions from CHMP for its biosimilar products. These opinions are critical for Biocon Biologics as they advance their efforts in the European market. In addition to the positive development, Biocon is also gearing up for significant capital raising to support its ongoing projects.