The announcement was made before market hours today, 15 July 2016.
Meanwhile, the S&P BSE Sensex was up 20.55 points or 0.07% at 27,962.66.
On BSE, so far 46,000 shares were traded in the counter as against average daily volume of 90,277 shares in the past one quarter. The stock hit a high of Rs 744 and a low of Rs 723.30 so far during the day. The stock had hit a record high of Rs 766 on 30 June 2016. The stock had hit a 52-week low of Rs 396.50 on 25 August 2015. The stock had underperformed the market over the past one month till 14 July 2016, sliding 0.11% compared with 5.86% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, advancing 28.59% as against Sensex’s 9.03% rise.
The large-cap company has equity capital of Rs 100 crore. Face value per share is Rs 5.
Insulin Glargine BS Injection Kit has been developed & manufactured by Biocon, and is being commercialised by FUJIFILM Pharma Co (FFP) in Japan. The product is a ready-to-use, prefilled disposable pen with 3ml of 100IU Insulin Glargine. It will provide a high quality, yet affordable, world-class long-acting biosimilar basal Insulin Glargine for patients of diabetes in Japan, Biocon said in a statement.
Biocon through its partner aims to capture a significant share of the Japanese Glargine market of $144 million, which is second largest market outside of North America & Europe and is largely dominated by disposable pens, the company said.
On consolidated basis, Biocon’s net profit rose 79.1% to Rs 360.90 crore on 16.8% growth in net sales to Rs 970.30 crore in Q4 March 2016 over Q4 March 2015.
Biocon is India’s largest and fully-integrated, innovation-led biopharmaceutical company.