Biocon jumps after inking deal with Sandos for distribution of FKB injection in Japan

Biocon shares jumped in morning deals on BSE in the first trading session after the company signed an agreement with Sandoz for the distribution of ‘Adalimumab BS Subcutaneous Injection [FKB]’ in Japan.
The stock of Biocon was up by 1.10 per cent, or Rs 2.70, at Rs 248.90 on BSE.
“Based on this Agreement, Viatris has completed marketing and promotion of the product as of December 15, 2023, but will continue to provide transition support until Sandoz will gradually assume responsibilities for the product starting February 15, 2024,” said Biocon in a statement.
Fujifilm Kyowa Kirin Biologics Co. Ltd., the developer of the drug, has concluded an exclusive global marketing license agreement with Biocon Biologics Ltd affiliate.
Adalimumab BS for subcutaneous injection [FKB] is a biosimilar of Humira® (generic name: adalimumab (genetical recombination)) and is indicated for immune-related diseases such as rheumatoid arthritis, psoriasis vulgaris, ankylosing spondylitis, Crohn’s disease, and ulcerative colitis, Biocon said.
Source: Zeebiz