Shares of Biocon Ltd were trading in the green and 1% higher on 7 October after the company announced that its subsidiary secured approval from the USFDA. 

In its regulatory filing, the company said that its wholly-owned subsidiary Biocon Pharma Ltd has received tentative approval from the US Food and Drug Administration (USFDA) for the abbreviated new drug application (ANDA) for Rifaximin tablets, 550 mg.

Biocon Pharma Ltd., Biocon’s arm, collaborated with Carnegie Pharmaceuticals on the medication.

According to Biocon, the pills are a rifamycin antibacterial approved for the prevention of recurrent overt hepatic encephalopathy and the treatment of irritable bowel syndrome with diarrhoea in adults.

Biocon’s management previously said that the company is well-positioned to deliver long-term value creation in FY26 and beyond, with excellent development across all of its businesses and additional capacity from Syngene and Biocon Generics’ US acquisitions.

At 12:03 pm, the shares of Biocon were trading 0.45% higher at Rs 349.30 on NSE.

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