Biocon Biologics Ltd on the Status of Bevacizumab FDA action date in Dec 2020

Biocon Biologics Limited, (a subsidiary of Biocon Limited) and Mylan (a subsidiary of Viatris Inc.) have been informed by the U.S. Food and Drug Administration (FDA) of a deferred action on the Biologics License Application (BLA) for MYL-1402O, a proposed biosimilar to Avastin® (bevacizumab).

To complete the application, the Agency noted that an inspection of the manufacturing facility is required as a part of the standard review process. However, due to restrictions on travel related to COVID-19, the Agency is unable to conduct an inspection during the current review cycle. We await the dates for the inspection.

There are no additional observations related to the application - Company Spokesperson, Biocon Biologics.

Shares of BIOCON LTD. was last trading in BSE at Rs.481.8 as compared to the previous close of Rs. 483.85. The total number of shares traded during the day was 204379 in over 3736 trades.

The stock hit an intraday high of Rs. 485.15 and intraday low of 476. The net turnover during the day was Rs. 98399949.

Source : Equity Bulls

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