Biocon share price rose by 2.5% during Tuesday’s trading session following the launch of a biosimilar product by its subsidiary, Biocon Biologics, aimed at treating specific autoimmune disorders in the US market. The product, Yesintek (ustekinumab-kfce), has received approval for the treatment of Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis, and is now accessible to patients in the US, according to a statement from the company. This biosimilar product is designed to be comparable to Stelara.
Shreehas Tambe, CEO & Managing Director of Biocon Biologics Ltd, stated that the introduction of Yesintek represents an important advancement in our dedication to enhancing the well-being of patients suffering from inflammatory disorders and increasing access to top-quality biosimilars.
“It also represents our first product launch in the United States since becoming a fully integrated global biosimilars organisation. We are excited to be among the first companies to introduce a high-quality, affordable biosimilar Ustekinumab to this patient population,” said Tambe.
The company mentioned in its filing that Yesintek is a monoclonal antibody that interferes with IL-12 and IL-23 mediated signaling linked to immunological diseases. Clinical research indicated that Yesintek is similar to Stelara® and possesses comparable pharmacokinetic properties, safety, efficacy, and immunogenicity profiles to Stelara®. In December 2024, Yesintek received approval from the U.S. Food and Drug Administration (FDA).
ICICI Direct Research stated in their report that Biocon Biologics has introduced Yesintek (ustekinumab), a biosimilar to Stelara, in the U.S. This represents one of the initial biosimilar launches for Stelara, enhancing affordable treatment alternatives for Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis.
“The market size is ~US$ 6 billion and Biocon would be amongst second wave of launchers. It’s expected to be a 5-6 players market and hence provides decent opportunity,” added ICICI Direct Research in its report.
Biocon share price today
Biocon share price today opened at ₹325.25 apiece on the BSE, the stock touched an intraday high of 328.90, and an intraday low of 321.15 per share. Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One explained that Biocon share price have witnessed major sell off in the Feb month eroding more than 9 % , as of now the trend remains gripped by the bears and 310 is the next strong support. on the flip side 200 sma at 340 is key resistance.
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