Shares of Biocon Ltd were trading in the green and 1% higher on Monday, 26 May, after the subsidiary of the company secured approval from the UK MHRA for plaque psoriasis drug. 

The company announced that Biocon Biologics, a fully integrated global biosimilars company and subsidiary of Biocon Ltd, had been granted market authorisation for Yesintek in the UK by the Medicines and Healthcare Products Regulatory Agency (MHRA).

Yesintek is licensed to treat adults and children aged 6 and up with moderate to severe plaque psoriasis, as well as individuals with active psoriatic arthritis or moderate to severe Crohn’s disease. 

The company added that clinical investigations have demonstrated that our Ustekinumab biosimilar is as safe and efficacious as the reference medication.

In Europe, the European Commission (EC) has granted Yesintek marketing authorisation, allowing it to be sold in all European Union (EU) member states and nations of the European Economic Area.

Biocon reported a 153% year-on-year (Y-o-Y) increase in consolidated net profit to Rs 344 crore for the fourth quarter of FY25, up from Rs 136 crore the previous year.

The outstanding quarterly performance was fueled by solid growth in the generics, biologics, and research services businesses. Biocon’s Board has authorised a plan to fund up to Rs 4,500 crore through different instruments, including QIPs, rights issues, and other legal methods.

Biocon is a prominent worldwide biopharmaceutical company dedicated to providing inexpensive, high-quality medicines and novel therapies for chronic and complicated diseases such as diabetes, cancer, and autoimmune disorders.

Biocon has a strong international presence, with operations in over 120 countries. The company is a key player in the biosimilars market, developing low-cost alternatives to complicated biologics such as human insulin and insulin glargine.

At 12:21 pm, the shares of Biocon were trading 0.27% higher at Rs 331.65 on NSE.

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