NEW DELHI: Biocon on Tuesday surged 6 per cent as the drug maker and its partner Mylan received USFDA approval for a biosimilar of a drug used to treat cancer.
The drug in question -- Fulphila -- is the first USFDA-approved biosimilar to Neulasta and the second biosimilar from Mylan's and Biocons joint portfolio approved in the US.Mylan expects to launch Fulphila in coming weeks, representing the first alternative and a more affordable treatment option than Neulasta for oncology patients.
A suite of patient services will also be available at launch to further support patients, Biocon told stock exchanges.Following the announcement, the stock rose 6.25 per cent to hit a high of Rs 695 on the BSE.Neulasta had US sales of $4.2 billion for the 12 months to March, according to IQVIA.Fulphila has been approved to reduce the duration of febrile neutropenia -- fever or other signs of infection with a low count of neutrophils, a type of white blood cells -- in patients treated with chemotherapy in certain types of cancer.