Biocon Q3 net profit up 9% at Rs 93 crore
The ongoing phase III trial being conducted in India continues to make good progress, it added.
The company said it has concluded the second part of its EU Phase III trial for biosimilar rh-Insulin, aimed at establishing comparable immunogenicity and safety with the innovator products, over a 12 month evaluation period.
"This data is being compiled along with the efficacy data obtained in the first part of the study. This will enable our dossier submission with the regulatory authorities, thus paving the way for marketing authorisation," it added.
Shares of Biocon were trading at Rs 265.55 on the BSE in afternoon trade, up 0.72 per cent from its previous close.
During the quarter, the company inked agreement with Bristol Myers Squibb (BMS) for the global clinical development of its oral Insulin program, IN-105.
"This alliance with BMS is a strategic partnership which will help us undertake targeted global trials under a US IND (investigational new drug). BMS has the right to exercise an option for exclusive worldwide license post the completion of these trials," the company said.
On future outlook, the company said it aims to have higher contribution from biosimilars, research services and branded formulations to the overall revenue.
".. We continue discussions with potential partners for taking our insulins and novel portfolio to the global markets," it added.
In a separate statement, the company said Shaw has been appointed on the Board of Trustees of
Be the first to comment.