Biocon shares gained as much as 6 per cent in the morning trade on Thursday after the biotechnology firm informed stock exchanges that it has introduced an advanced novel therapy CIMIVIR-L for the treatment of Hepatitis C in India. CIMIVIR-L is a fixed dose combination of Ledipasvir 90 mg and Sofosbuvir 400 mg, which is an equivalent of the innovator product commercialized by Gilead Sciences in the US.
At 10.07 am. Biocon was trading 5.64 per cent up at Rs 508.90. The scrip opened at Rs 485.05 and had touched a high and low of Rs 510.50 and Rs 484, respectively, in trade so far. The scrip later settled 5.36 per cent up at Rs 507.55.
The Drugs Controller General of India (DCGI) recently approved the sale of Sofosbuvir- Ledipasvir combination, which is being manufactured in India under a license from Gilead.
CIMIVIR-L, a once-a-day oral therapy, will offer a convenient, effective and safe alternative to people infected with the Hepatitis-C virus (HCV). It is estimated that nearly one lakh people die annually in India from HCV infection and co-morbidities. CIMIVIR-L is indicated for Hepatitis-C Genotype 1 patients who account for 25% of the total estimated HCV patient population of 18 million in the country.
CIMIVIR-L will be made available to patients in India at a fraction of the global cost of the innovator brand. The cost of a 12-week course of this combination therapy in the US is $94,500 (around Rs 63 lakhs).