Biocon Biologics and Viatris Receive European Commission Approval for Biosimilar Bevacizumab

Biocon Biologics Ltd., a subsidiary of Biocon Ltd. (BSE code: 532523, NSE: BIOCON), has announced that Abevmy® 100 & 400 mg, a biosimilar of Bevacizumab co-developed with Viatris Inc. (NASDAQ: VTRS) has received marketing authorization approval from the European Commission following the positive recommendation by the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency.

Abevmy® 100 & 400 mg, a biosimilar Bevacizumab, is approved for the treatment in metastatic colorectal carcinoma, metastatic breast cancer, nonsmall-cell lung carcinoma, glioblastoma, ovarian, cervical and renal cancer as part of a specific regimen.

The centralized marketing authorization granted by the EC is valid in all EU Member States as well as in the European Economic Area (EEA) countries Iceland, Liechtenstein and Norway.

Company Spokesperson, Biocon Biologics, "The European Commission's approval of our biosimilar Bevacizumab will enable us to offer this biologic therapy to cancer patients in the EU along with our partner Viatris. The addition of biosimilar Bevacizumab will strengthen our portfolio of biosimilars for cancer in the EU, which include biosimilar Trastuzumab and biosimilar Pegfilgrastim. This approval is an outcome of a great team effort and years of hard work and underlines our commitment to expand affordable access to life-saving biosimilars and make an enduring impact on global health."

Shares of BIOCON LTD. was last trading in BSE at Rs.397.4 as compared to the previous close of Rs. 399.5. The total number of shares traded during the day was 169914 in over 4314 trades.

The stock hit an intraday high of Rs. 403.3 and intraday low of 396. The net turnover during the day was Rs. 67765640.

Source : Equity Bulls

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