Biocon shares hit 52 week high on Sandoz deal

Biocon shares surged over 5% in today's trade after it announced global partnership with Sandoz to develop, manufacture and commercialize multiple biosimilars in immunology and oncology for patients worldwide.
 
The partnership is likely to be a significant milestone in Biocon's journey of developing advanced therapies. A biosimilar is a biologic medical product that are made inside living cells and have no clinical differences in terms of safety and effectiveness from the main product. These are innovator products and are cheaper than there branded counterparts.

As per the filing made by Biocon to BSE, the partnership will leverage combined strengths of development, manufacturing and commercialization of biosimilars.

Biocon will derive multiple benefits from the deal including enhanced product pipleline, greater penetration into developed markets and acceptance from developing market regulators.

The stock hit 52 week high at Rs 570.75 in today's trade and gained over 72% in the last one year. The stock trades at trailing twelve months PE of 75.15 as on 18 Jan 2017.