Shares of Biocon Ltd rose 1% to touch a day’s high of Rs 340 on 3rd June. This increase came after the company announced it had received regulatory approval in India for its Liraglutide drug substance. Meanwhile, its wholly owned subsidiary, Biocon Pharma, secured clearance for the drug product. The product is a 6 mg/ml solution for injection in pre-filled pens and cartridges.

Biocon received approval for a generic version of Victoza. Victoza is a GLP-1 drug used to treat Type 2 diabetes in adults, adolescents, and children aged 10 and above.

The approval was granted under the CDSCO’s new 101 route. This route allows quicker approvals based on clearances from major global regulators.

GLP-1 drugs, such as Liraglutide, help lower blood sugar and support weight loss. As a result, they are effective in managing Type 2 diabetes.

Biocon’s CEO called this a key step in expanding access to GLP-1 therapies in India. This expansion is crucial where over 77 million people live with diabetes.

Biocon plans to launch the product in India through commercialisation partners.

The approved drug will be available as a 6 mg/ml solution in pre-filled pens and cartridges through Biocon Pharma.

At 12.02 PM, the shares of Biocon Ltd were trading 1.06% higher at Rs 337.55 on NSE.

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