Shares of Biocon Ltd fell 1.5% after hitting a day’s high of Rs 382 on 7th July. This occurred despite the company announcing that its subsidiary, Biocon Biologics Ltd, has received marketing authorisation from the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) for its Denosumab biosimilars — Vevzuo and Evfraxy.

Biocon said Vevzuo has been approved in the UK to prevent bone-related issues like fractures, spinal cord compression, or the need for bone surgery or radiation in adults with advanced cancers involving the bone. Additionally, it can be used to treat giant cell tumours of the bone in adults and older teens when surgery isn’t possible or would be risky.

Evfraxy has been cleared to treat osteoporosis in post-menopausal women and men at high risk of fractures. It also helps reduce the chances of hip, spine, and other fractures in post-menopausal women.

In addition, it can treat bone loss in men undergoing hormone therapy for prostate cancer. It can also be used in adults on long-term steroid treatment who are at risk of fractures.

Biocon stated that clinical studies have shown both biosimilars to be as safe and effective as the original drug.

Earlier, the European Commission had also approved these biosimilars for sale across the EU and the European Economic Area.

At 11:53 AM, the shares of Biocon Ltd were trading 1.58% lower at Rs 374.05 on NSE.

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