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.
Fulphila, which was launched in Australia two weeks ago, is approved by Health Canada to decrease the incidence of infection, as manifested by febrile neutropenia, said Biocon in a press release.
David Simpson, Country Manager, Mylan Canada, said: “We have reached a negotiated agreement with the Pan-Canadian Pharmaceutical Alliance (pCPA) to help expand access to treatment and reduce costs for cancer patients.”