<p class="title">Shares of Biocon settled with gains of 15% on the bourses, after the company said it has received regulatory approval to market a biosimilar of cancer drug Herceptin in the US, following which the market capitalisation of the company improved by Rs 4,020 crore.</p>.<p class="bodytext">During the day, the shares of the company had surged 16.33% to an intra-day high of Rs 519.50, which was also its 52-week high level.</p>.<p class="bodytext">The stock however pared some gains and settled at Rs 513.55, up 15% on the BSE.</p>.<p class="bodytext">Following the uptick on the counter, the market capitalisation of the company improved by Rs 4,020 crore to Rs 30,813.00 crore at the end of Monday's trading session.</p>.<p class="bodytext">On the NSE, the stock of the company opened at Rs 491.95, then touched a 52-week high of Rs 519.50 and finally ended the day at Rs 517, up 15.60%.</p>.<p class="bodytext">The US health regulator has approved Mylan NV's biosimilar Ogivri, co-developed with Biocon, for the treatment of certain breast and stomach cancers, a company statement said.</p>.<p class="bodytext">"Biocon and Mylan have a shared commitment to enhance access to cutting-edge bio-therapeutics and this approval will enable us to provide an affordable alternative for cancer care that will address the unmet needs of patients in the US," Biocon CMD Kiran Mazumdar-Shaw said.</p>.<p class="bodytext">Mylan and Biocon's biosimilar for Herceptin is also under review by regulatory authorities in Australia, Canada, Europe and several additional markets, the statement said.</p>.<p class="bodytext">It is already approved in 19 countries around the world, including India, thus providing increased access to this more affordable biologic for cancer patients, it added.</p>.<p class="bodytext">Mylan CEO Heather Bresch said: "The approval of Ogivri represents a monumental achievement for Mylan to increase patient access to biosimilars and deliver significant savings to the US healthcare system."</p>
<p class="title">Shares of Biocon settled with gains of 15% on the bourses, after the company said it has received regulatory approval to market a biosimilar of cancer drug Herceptin in the US, following which the market capitalisation of the company improved by Rs 4,020 crore.</p>.<p class="bodytext">During the day, the shares of the company had surged 16.33% to an intra-day high of Rs 519.50, which was also its 52-week high level.</p>.<p class="bodytext">The stock however pared some gains and settled at Rs 513.55, up 15% on the BSE.</p>.<p class="bodytext">Following the uptick on the counter, the market capitalisation of the company improved by Rs 4,020 crore to Rs 30,813.00 crore at the end of Monday's trading session.</p>.<p class="bodytext">On the NSE, the stock of the company opened at Rs 491.95, then touched a 52-week high of Rs 519.50 and finally ended the day at Rs 517, up 15.60%.</p>.<p class="bodytext">The US health regulator has approved Mylan NV's biosimilar Ogivri, co-developed with Biocon, for the treatment of certain breast and stomach cancers, a company statement said.</p>.<p class="bodytext">"Biocon and Mylan have a shared commitment to enhance access to cutting-edge bio-therapeutics and this approval will enable us to provide an affordable alternative for cancer care that will address the unmet needs of patients in the US," Biocon CMD Kiran Mazumdar-Shaw said.</p>.<p class="bodytext">Mylan and Biocon's biosimilar for Herceptin is also under review by regulatory authorities in Australia, Canada, Europe and several additional markets, the statement said.</p>.<p class="bodytext">It is already approved in 19 countries around the world, including India, thus providing increased access to this more affordable biologic for cancer patients, it added.</p>.<p class="bodytext">Mylan CEO Heather Bresch said: "The approval of Ogivri represents a monumental achievement for Mylan to increase patient access to biosimilars and deliver significant savings to the US healthcare system."</p>