{"id":5249,"date":"2024-12-02T14:21:33","date_gmt":"2024-12-02T08:51:33","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=5249"},"modified":"2024-12-02T14:21:35","modified_gmt":"2024-12-02T08:51:35","slug":"biocon-shares-rise-4-as-us-fda-approves-biosimilar-yesintek","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/biocon-shares-rise-4-as-us-fda-approves-biosimilar-yesintek\/","title":{"rendered":"Biocon Shares Rise 4% as US FDA Approves Biosimilar Yesintek"},"content":{"rendered":"\n<p>Shares of Biocon jumped over 4% in intraday trade on December 2 after the US FDA approved Biocon Biologics&#8217; Yesintek, a biosimilar to Johnson &amp; Johnson&#8217;s Stelara. At 12:10 PM, shares of Biocon were trading 3% higher at \u20b9375. For the stock, it was the seventh straight session of gains. The stock has gained 47% in 2023 so far, outpacing its peers as the Nifty 50 rose 11% in the same period.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Key Details About Yesintek<\/h3>\n\n\n\n<p>Yesintek, a monoclonal antibody, has been approved for treating several autoimmune conditions, including Crohn&#8217;s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis.<\/p>\n\n\n\n<p>Biocon Biologics had previously announced a settlement and licensing agreement with Janssen Biotech Inc., Janssen Sciences Ireland, and Johnson &amp; Johnson to commercialize Yesintek in the U.S. by February 22, 2025, following FDA approval.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Financial Performance<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Q2 FY25<\/strong>: Biocon reported an 84% decline in net profit to \u20b927 crore, compared to \u20b9172 crore in the same quarter last year.<\/li>\n\n\n\n<li><strong>Revenue<\/strong>: Revenue from operations increased by nearly 4% to \u20b93,590 crore, compared to \u20b93,462 crore in Q2 FY24.<\/li>\n\n\n\n<li><strong>EBITDA<\/strong>: Operating EBITDA fell 7.6% YoY to \u20b9685.5 crore, with margins narrowing to 19.1% from 21% in the previous year.<\/li>\n\n\n\n<li><strong>Biocon Biologics<\/strong>: This segment saw a 19% YoY growth in revenue, reaching \u20b92,182 crore.<\/li>\n<\/ul>\n\n\n\n<p>The FDA approval of Yesintek strengthens Biocon&#8217;s portfolio in the biosimilar space, which is expected to drive future growth.<\/p>\n\n\n\n<p>Do you have a news tip for Lakshmishree reporters? Please email us at <a>media@lakshmishree.com<\/a><br><sub><sup>Source: <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/biocon-shares-rise-4-after-us-fda-approves-yesintek-12880770.html\" data-type=\"link\" data-id=\"https:\/\/www.moneycontrol.com\/news\/business\/markets\/biocon-shares-rise-4-after-us-fda-approves-yesintek-12880770.html\" target=\"_blank\" rel=\"noopener\">Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Biocon jumped over 4% in intraday trade on December 2 after the US FDA approved Biocon Biologics&#8217; Yesintek, a biosimilar to Johnson &amp; Johnson&#8217;s Stelara. At 12:10 PM, shares of Biocon were trading 3% higher at \u20b9375. For the stock, it was the seventh straight session of gains. The stock has gained 47% [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5250,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[50],"tags":[753],"class_list":["post-5249","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-market","tag-biocon-fda-approves"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5249","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=5249"}],"version-history":[{"count":1,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5249\/revisions"}],"predecessor-version":[{"id":5251,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/5249\/revisions\/5251"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/5250"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=5249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=5249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=5249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}