Shares of Biocon Ltd rose 1% to touch a day’s high of Rs 405.90 on 16th July, after the United States Food & Drug Administration (USFDA) approved Insulin Aspart, which the company markets under the brand name Kristy. The stock also hit its 52-week high of Rs 405.90 today.

Kristy, Biocon’s newly approved drug, is a fast-acting insulin used to control blood sugar in adults and children with diabetes. It will be available in the US as a prefilled pen for subcutaneous use and a vial for both subcutaneous and intravenous use, the company said in an exchange filing.

Kristy has been available in the EU and Canada since 2022. The US FDA has approved it as the first and only interchangeable biosimilar to Novolog. According to IQVIA data for 2024, Insulin Aspart—the drug on which Kristy is based—recorded sales of nearly $1.9 billion in the US.

Biocon said this approval expands its biosimilar insulin portfolio, which also includes Semglee, another FDA-approved interchangeable biosimilar.

Biocon Biologics’ MD & CEO, Shreehas Tambe, called the approval a key milestone in making insulin more affordable and accessible.

At 12:31 PM, the shares of Biocon Ltd were trading 0.81% higher at Rs 393.60 on NSE.

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