A biosimilar pegfilgrastim drug, named Fulphila, helped to bag 4% profit in the shares of Biocon. This happened after the announcement of the launch of the drug, along with Mylan, in Canada. Biocon has shared commercialization rights with Mylan for the product in the rest of the world.
Fulphila is used to decrease the incidence of infection in patients with non-myeloid malignancies.
Following the development, the stock rose 4.23% to hit a high of Rs 367 on BSE.