|Bid||444.20 x 0|
|Ask||444.50 x 0|
|Day's range||442.35 - 453.95|
|52-week range||212.20 - 453.95|
|Beta (5Y monthly)||0.58|
|PE ratio (TTM)||76.57|
|Forward dividend & yield||N/A (N/A)|
|1y target est||650.36|
India's Biocon Ltd has received regulatory approval for its drug Itolizumab to be used on coronavirus infected patients suffering from moderate to severe respiratory distress, the biopharmaceutical company said in a statement on Saturday. The drug, which is also used to cure the skin disease psoriasis, was cleared by the Drug Controller General of India (DCGI) for usage in India. "The randomised control trial indicated that all the patients treated with Itolizumab responded positively and recovered," said Kiran Mazumdar-Shaw, the firm's executive chairperson.
Here's some welcome news for diabetics dealing with the high price of insulin: The Food and Drug Administration has approved Mylan (NASDAQ: MYL) and Biocon's Semglee, which is essentially identical to Sanofi's (NASDAQ: SNY) insulin product Lantus. The companies didn't disclose what they plan to charge for Semglee when announcing the approval, but Mylan CEO Heather Bresch implied that it would be cheaper than Lantus. The opportunity for Mylan and Biocon (which bills itself as India's largest biopharmaceutical) is substantial; IQVIA estimates that Sanofi took in $1.68 billion in revenue from Lantus vials and $4.33 billion from the Lantus SoloSTAR Pen in the 12-month period that ended in April.
Indian stocks ended lower for a fifth straight day on Thursday after hitting four-month lows, as fears of the coronavirus becoming a pandemic made investors flee riskier assets. The broader NSE Nifty 50 index fell 0.4% to 11,633.30, while the benchmark S&P BSE Sensex declined 0.4% to 39,732.93. Governments ramped up measures on Thursday to battle a looming global pandemic of the coronavirus as the number of infections outside China, the source of the outbreak, for the first time surpassed those appearing inside the country.