₹10,000 invested in Biocon just before lockdown is now worth over ₹16,500⁠— here’s why

Kiran Mazumdar ShawBCCL

  • Biocon has joined the list of other pharma giants like Glenmark, Hetero, and Cipla which rolled out repurposed drugs to treat COVID-19 patients in India.
  • Itlolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe coronavirus cases.
  • Previously, Biocon along with Cipla, Hetero Labs, Jubilant Lifesciences and Mylan got voluntary permission from Gilead Sciences to produce Remdesivir in India.
  • Biocon’s subsidiary Biocon Biologics also received approval from the Drugs Controller General of India to use extracorporeal blood purification (EBP) device CytoSorb to treat coronavirus patients.
Indian pharmaceutical giant Biocon Limited on July 11 got approved from the Drugs Controller General of India for the use of its biologic drug Itolizumab to treat moderate and severe coronavirus patients.

The shares of Kiran Mazumdar Shaw-led Biocon rose by nearly 10% after it announced that it has received an emergency use authorisation for Itolizumab. Though the shares have cooled down since the net gains from the stock are over 65% in less than 90 days.

Business Insider India

While most businesses have struggled to keep their operations up and running during the pandemic, drug makers have been essential in the fight against COVID-19.
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Biocon has joined the list of other pharma giants like Glenmark, Hetero, and Cipla which rolled out repurposed drugs to treat COVID-19 patients in India. These repurposed drugs were designed to treat other diseases but their generic version is now used to cure coronavirus.

However, very few stocks, even within the pharmaceuticals universe, have performed as well as Biocon has.

Stocks QTR %
Biocon25.51%
Lupin10.67%
Cadila Health2.08%
Cipla 9.99%
Alkem Laboratories -11.66%
Dr. Reddys Lab7.74
Source: ET
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READ ALSO: Fabiflu, Covifor, Cipremi and other drugs approved or under trial for COVID-19 patients in India

Biocon has at least two drugs being used to treat COVID-19

Itlolizumab is the first novel biologic therapy to be approved anywhere in the world for treating patients with moderate to severe coronavirus cases.

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The firm has repurposed the drug, an anti-CD6 IgG1 monoclonal antibody launched in India in 2013 as Alzumab for treating chronic plaque psoriasis, a skin disease.

Itlolizumab will be manufactured and formulated as an intravenous injection at Biocon Park in Bengaluru. The pharma giant might charge ₹32,000 for the full course of the drug.

Previously, Biocon along with Cipla, Hetero Labs, Jubilant Lifesciences and Mylan got voluntary permission from Gilead Sciences to produce Remdesivir in India. Remdesivir is an antiviral drug that was first used to treat Ebola.

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Biocon’s subsidiary Biocon Biologics also received approval from the Drugs Controller General of India to use extracorporeal blood purification (EBP) device CytoSorb to treat coronavirus patients. CytoSorb, according to Shaw, is a unique device which reduces cytokine storm in critically ill coronavirus patients and was first introduced in India in 2013.

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