Shares of Biocon Ltd. rose 1.45% in intraday trade to Rs 370.06 apiece after the company announced the launch of Everolimus tablets, a generic version of Afinitor in the U.S., thereby expanding its generic formulations portfolio.
Everolimus tablets, a prescription drug used to treat certain types of cancers, have been introduced in four doses. According to IQVIA, U.S. sales of Everolimus tablets was approximately $675 million in the 12 months ending July 2021.
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Of the 22 analysts tracking the company, 11 maintained ‘buy’, five maintained ‘hold’ and six maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 8.3%.
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