Biocon surges 6% on announcement of new threapy
The novel therapy, CIMIVIR-L, is for the treatment of Hepatitis C in India.
By ET Online | Updated:
NEW DELHI: Shares of Biocon surged over 5 per cent after the company announced the introduction of an advanced novel therapy CIMIVIR-L for the treatment of Hepatitis C in India.
The move comes after pharma giant Cipla introduced a drug to treat Hepatitis C on Monday.
Reacting to the announcement, the scrip climbed 5.96 per cent to hit a high of Rs 510.50. The stock has gained over 10 per cent over the past month and has been one of the top performers in BSE healthcare index this year so far.
"The introduction of CIMIVIR-L will strengthen Biocon's current portfolio of verilogy products," the company said in a release to the bourses.
The launch of the new drug follows up on the introduction of CIMIVIR (Sofosbuvir) earlier in the year and is another step in the company's effort to provide affordable cure for Hepatitis C in India.
The move comes after pharma giant Cipla introduced a drug to treat Hepatitis C on Monday.
Reacting to the announcement, the scrip climbed 5.96 per cent to hit a high of Rs 510.50. The stock has gained over 10 per cent over the past month and has been one of the top performers in BSE healthcare index this year so far.
"The introduction of CIMIVIR-L will strengthen Biocon's current portfolio of verilogy products," the company said in a release to the bourses.
The launch of the new drug follows up on the introduction of CIMIVIR (Sofosbuvir) earlier in the year and is another step in the company's effort to provide affordable cure for Hepatitis C in India.
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