Biocon Advances Over 8%, Seeks USFDA Approval For Breast Cancer Drug

The stock of Biocon Ltd. surged over 8% in the early morning trade on Wednesday, on the BSE ahead of the USFDA meet to discuss its breast cancer drug filing.

The US drug regulator’s Advisory Committee (Adcom) will be meeting on July 13 to discuss trastuzumab filing done by Mylan, Biocon’s partner.

The Indian biopharma giant, had plunged over 9% during Monday’s trade on the BSE as the French inspecting authority (ANSM) found lapses at Biocon's Bengaluru plant.

Biocon Ltd. was trading at Rs 342.45, up by Rs 19.35 or 5.99% as at 1034 hours on Wednesday, on the BSE. The stock had hit an intraday high of Rs 351.10.

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