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Global biopharmaceuticals company <keyword id="6358361" type="General" weightage="100" keywordseo="biocon" source="Orion">Biocon</keyword> on Wednesday reported 23 per cent rise in revenue for the first quarter of financial year 2023, at Rs 2,217 crore. "We have had a strong start to the year. At a consolidated level, YoY revenues grew 23 per cent backed by robust growth in both <keyword id="6359687" type="General" weightage="50" keywordseo="biosimilars" source="Orion">Biosimilars</keyword> (29 per cent) and Generics (19 per cent). Core earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 25 per cent and margin improved to 31 per cent compared to 30 per cent in Q1FY22 and net profit grew 71 per cent to Rs 144 crore. "Our financial performance this quarter includes the impact of annual increments in personnel costs as well as increased input and freight costs, pursuant to pandemic and geopolitical disruptions of global supply chains. "All our three businesses are poised for the next phase of strong and sustainable growth which has been challenged during the two years of the Covid-19 pandemic," <keyword id="14575168" type="General" weightage="50" keywordseo="biocon-and-biocon-biologics-executive" source="Orion">Biocon and Biocon Biologics Executive</keyword> <keyword id="10034873" type="General" weightage="20" keywordseo="chairperson-kiran-mazumdar-shaw" source="Orion">Chairperson Kiran Mazumdar-Shaw</keyword> said. Sales of Glargine in the US, and key biosimilars in emerging markets were the main drivers for <keyword id="14245336" type="General" weightage="50" keywordseo="biocon-biologicals" source="Orion">Biocon Biologicals</keyword>' strong performance. <keyword id="10493627" type="General" weightage="50" keywordseo="biocon-biologics-ltd" source="Orion">Biocon Biologics Ltd</keyword> Managing Director <keyword id="287851" type="General" weightage="50" keywordseo="arun-chandavarkar" source="Orion">Arun Chandavarkar</keyword> said: "Initiation of global clinical trials for two monoclonal antibodies and advancement of our other pipeline assets led to a 120 per cent increase in our research and development investments this quarter. Whilst this impacts EBITDA in the near term, such investments will create a strong portfolio to secure our future growth. "Our strategic alliance with Serum Institute Life Sciences for vaccines and the acquisition of Viatris' global biosimilars business are on track for closure in the second half of this calendar year." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/reduction-in-rice-cereals-sown-area-worrisome-bank-of-baroda/articleshow/93175801.cms">Reduction in rice, cereals sown area worrisome: Bank of Baroda</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/oppo-pad-air-review-sleek-and-stylish-but-short-on-power/articleshow/93165775.cms">Oppo Pad Air review: Sleek and stylish but short on power</a>

Biocon Q1FY23 revenue up 23% at Rs 2,217 cr

<ul><li><keyword id="6358361" type="DEFINITION" weightage="20" keywordseo="biocon">Biocon</keyword>’s subsidiary company <keyword id="8144461" type="UNKNOWN" weightage="20" keywordseo="Biocon-Biologics">Biocon Biologics</keyword> has raised $30 million from <keyword id="154226" type="CITY" weightage="20" keywordseo="Tata-Capital">Tata Capital</keyword> Growth Fund, valuing the company at $3.5 billion.</li><li>Biocon’s share price jumped by almost 2% as the news of the funding came in. </li><li>Biocon Biologics claims to hold one of the world’s largest <keyword id="6359687" type="UNKNOWN" weightage="20" keywordseo="biosimilars">biosimilars</keyword> portfolios.</li></ul>Biocon’s subsidiary company Biocon Biologics has raised $30 million from Tata Capital Growth Fund, valuing the company at $3.5 billion. With the equity transaction, Tata Capital will get a 0.85% stake in Biocon Biologics. Biocon’s share price jumped by almost 2% as the news of the funding came in. <div type="image" title="biocon" msid="77277164" hostid="261"></div> “This equity infusion is the next step in our journey of unlocking value. Through prudent investments in R&amp;D and high-quality manufacturing infrastructure we are confident of achieving our aspiration of serving 5 million patients through our biosimilars portfolio and achieving a target revenue of $1 billion in FY22,” said Dr. Christiane Hamacher, CEO, Biocon Biologics in a statement. Biocon Biologics claims to hold one of the world’s largest biosimilars portfolios. Biosimilars are medical products that are highly similar to already existing and approved drugs, and they contribute heavily to the company’s revenue. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue Growth </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Contribution to Revenue </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Generics </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.40% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Biosimilars </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40.90% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Research Services </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.90% </td></tr></tbody></table> “The investment brings together 150+ years of brand equity of Tata’s and a very strong R&amp;D based entrepreneur in Dr Kiran Mazumdar-Shaw with a golden track record of conceptualizing, investing and creating billion-dollar businesses by a meticulous combination of R&amp;D strengths and an exceptional management team,” said Akhil Awasthi, Managing Partner, Tata Growth PE. The Bengaluru-based biopharmaceutical company Biocon Limited had recently posted 26% fall in profit to ₹167.8 crore in the April and June quarter. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/biocon-itself-is-depressed-but-syngene-can-offer-a-shot-of-hope/articleshow/77146332.cms">Biocon shares are depressed itself but Syngene can offer a shot of hope</a> <a href="https://www.businessinsider.in/tech/news/this-is-what-amazon-google-and-facebook-had-to-say-about-india-in-their-earnings-calls/slidelist/77276228.cms">This is what Amazon, Google and Facebook had to say about India in their earnings calls</a>

Biocon’s subsidiary raises $30 million from Tata Capital – company’s shares jump by almost 2%

New Delhi, Mar 9 () The US Food and Drug Administration (USFDA) has accepted biologics license application by Mylan and Biocon for proposed biosimilar to Bevacizumab for review, according to a regulatory filing. The application seeks approval of Bevacizumab for the first-line and second-line treatment of patients with metastatic colorectal cancer in combination with fluorouracil-based chemotherapy, among other related-ailments. The two firms said that "the US Food and Drug Administration has accepted Mylan's biologics license application (BLA) for MYL-14020, a proposed biosimilar to Avastin (bevacizumab) for review under the 351(k) pathway". The shares of Biocon were trading at Rs 302.80 a piece on BSE ,down 2.26 per cent from the previous close. SID SID ANSANS

USFDA accepts proposed biosimilar application by Mylan, Biocon for review

New Delhi, Dec 2 () Biotechnology major Biocon and drug firm Mylan NV on Monday announced the launch of biosimilar Ogivri, used for treatment of certain breast and gastric cancers, in the US market.
 It is a biosimilar of global pharma major Roche's Herceptin.
 Ogivri is available in a 420 mg multi-dose vial and a 150 mg single-dose vial in order to provide the patients dosing and treatment flexibility, the companies said in a joint statement.
 "The US launch of Ogivri, the biosimilar trastuzumab co-developed by Biocon Biologics and Mylan, marks a significant milestone in our biosimilars journey," Biocon Biologics CEO Christiane Hamacher said.
 The introduction of both 420 mg multi-use vials and 150 mg single-use vials of a high quality biosimilar trastuzumab with robust long-term efficacy and safety data will offer greater choice and value to patients, prescribers and payors in the US, she added.
 "We aspire to serve 5 million patients through our biosimilars portfolio and cross a revenue milestone of USD 1 billion by FY22," Hamacher said.
 Ogivri was the first biosimilar trastuzumab approved by the United States Food and Drug Administration (USFDA), the statement said.
 It is approved for all indications of Herceptin including for the treatment of HER2-overexpressing breast cancer and metastatic stomach cancer, it added.
 "As one of the largest suppliers of oncology medicines in the US, we are proud to offer Ogivri, biosimilar trastuzumab, in both the 420 mg and 150 mg strengths and help increase more affordable access to this important treatment option for breast and gastric cancer patients," Mylan President Rajiv Malik said.
 With regulatory approval for "our biosimilar trastuzumab in more than 80 countries worldwide, we are bringing vast global biosimilars experience to the US and look forward to continuing our work with all stakeholders in the healthcare system to reduce costs, improve access and advance care," he added.
 Ogivri is the second biosimilar to be offered by Mylan through the Mylan-Biocon Biologics partnership in the US and the second FDA-approved biosimilar through this collaboration to support cancer patients, the statement said.
 Shares of Biocon Ltd on Monday closed at Rs 285.95 per scrip on BSE, up 1.53 per cent from its previous close. AKT RVK

Mylan, Biocon launch biosimilar of cancer drug Herceptin in US

New Delhi, Jan 9 () The biosimilars global market is on the cusp of exceptional growth and presents attractive opportunities for select domestic pharmaceutical companies in the years to come, according to rating agency Icra.
 The biosimilars global market, which stood at USD 5.9 billion in the calendar year 2018, is expected to grow to USD 23.6 billion by 2023, backed by several biologicals losing patent protection globally, Icra Research said in a statement.
 Select Indian pharma companies with strong research and development capabilities will be in a position to exploit these opportunities in the key markets of USA, Europe and "Rest of the World" (ROW), it added.
 "ICRA believes that only select Indian companies based on joint development model with MNC Generics will be able to successfully launch several biosimilars over the next 3-5 years," Icra Corporate Ratings Vice-President Gaurav Jain said.
 Economies of scale in manufacturing and ability to allocate adequate R&amp;D resources on product development would be key differentiators going forward, he added.
 "This will be credit positive for such select successful players though at an aggregate sector level, it is unlikely to materially impact credit profile owing to limited participation from Indian players," Jain said.
 While only a few Indian companies have been able to launch biosimilars in developed markets of the US and Europe, ROW has seen much better participation, he added.
 A biosimilar medicine is a biological medicine that is similar to another biological medicine that has already been authorised for use. AKT HRS

Biosimilars global market to provide promising opportunity for select domestic pharma firms: Icra

<ul class="summary-list"><li>Kroger is working with Mark Cuban's Cost Plus Drugs to offer some prescriptions at its pharmacies.</li><li>Cost Plus customers can now pick up their drugs at one of 2,000 Kroger pharmacies.</li></ul>Mark Cuban's effort to curb some prescription drug prices has a new partner: The largest supermarket chain in the US.Patients who get their drugs through Cost Plus Drugs can now pick them up at one of 2,000 stores operated by Kroger, Cost Plus tweeted on Wednesday. Kroger operates supermarkets under multiple names, including Ralph's and City Market. Cuban is a billionaire known for owning the Dallas Mavericks NBA team as well as his appearances on "Shark Tank." He started Cost Plus in 2022.The venture started out offering cheaper versions of generic drugs, a strategy similar to what Costco does with its own pharmacy. Since then, it has started offering <a href="https://www.fda.gov/drugs/therapeutic-biologics-applications-bla/biosimilars" target="_blank" rel="noopener">"biosimilar" versions </a>of other prescription drugs. One recent addition to its offerings, for instance, is a biosimilar version of Humira, which treats arthritis.<a href="https://www.businessinsider.com/how-to-use-mark-cuban-cost-plus-drug-company-2022-3">Cost Plus Drugs</a> buys drugs directly from the manufacturer and ships them to patients at a 15% markup plus pharmacy fees. By acting as a go-between for manufacturers and patients, the company avoids middlemen, called pharmacy benefit managers, who often end up tacking additional costs onto drugs for patients. The company <a href="https://www.businessinsider.com/mark-cuban-cost-plus-drugs-company-online-pharmacy-challenges-2023-1">already has over 1 million accounts.</a>Kroger is the largest pure-play grocery chain in the US. It has been beefing up its health-related offerings over the last few years. In January, for example, the grocer said that some of its pharmacies would <a href="https://www.mobihealthnews.com/news/kroger-health-launches-clinical-trial-site-network">host clinical trials.</a> It's also trying to tie in its grocery offerings with health, such as offering <a href="https://www.kroger.com/health/registered-dietitians">dietitians</a> who can advise patients, including those with chronic diseases, on what to eat.And it's not the only one. Other giants, like Walmart and Amazon, have made similar moves to venture into the healthcare space. Amazon offers <a href="https://www.businessinsider.com/amazon-clinic-direct-consumer-hims-ro-2022-11">a virtual clinic</a> and <a href="https://www.businessinsider.com/how-to-use-amazon-pharmacy-rxpass-generic-prescriptions-medicines-review-2023-2">online pharmacy</a> and just last year acquired a giant telehealth company called One Medical. Walmart has said it plans to open <a href="https://www.businessinsider.com/how-walmart-should-respond-to-amazons-one-medical-acquisition-2022-8">4,000 clinics by 2029.</a>Kroger has also proposed a $24.6 billion acquisition of rival grocery chain Albertsons. If the deal earns federal approval, it could add up to 1,700 pharmacies from Albertsons' network to Kroger's, <a href="https://www.insiderintelligence.com/content/kroger-health-targets-grocery-shoppers-with-convenient-care" target="_blank" rel="noopener">according to Insider Intelligence.</a>

You can now find Costco-style low prices for generic prescription drugs at Kroger in a partnership with Mark Cuban's online pharmacy

<keyword id="6444828" type="General" weightage="100" keywordseo="gland-pharma" source="Orion">Gland Pharma</keyword> on Monday announced that it would be investing ₹400 crore to create additional capabilities in its existing facility at Genome Valley here to manufacture biologicals, biosimilar, antibodies and recombinant <keyword id="48003" type="General" weightage="50" keywordseo="insulin" source="Orion">Insulin</keyword>. An official release from the state government said the expanded facility will have employment generation potential of more than 500 numbers of qualified, skilled and semi-skilled workforce to be recruited, mostly from nearby places. The company established their biopharmaceutical facility in February last year at Genome Valley with an investment of ₹300 crore to manufacture vaccines, biologicals, biosimilar, antibodies and others. The expanded site is envisaged to meet the national and international regulations to be followed in the manufacturing of the biological products as applicable and shall be built under the GMP guidelines applicable for the respective product lines, it said. The announcement was made after <keyword id="2554387" type="General" weightage="50" keywordseo="telangana-industries" source="Orion">Telangana Industries</keyword> Minister KT <keyword id="82835" type="General" weightage="80" keywordseo="rama-rao" source="Orion">Rama Rao</keyword>'s meeting with the Managing Director and Chief Executive Officer of Gland Pharma <keyword id="10242761" type="General" weightage="50" keywordseo="srinivas-sadu" source="Orion">Srinivas Sadu</keyword>. Srinivas Sadu said, "We are delighted to collaborate with the Government of Telangana on its vision of making the State a hub for global pharmaceutical requirements, by expanding our Bio-CDMO facilities in <keyword id="238799" type="General" weightage="50" keywordseo="shamirpet" source="Orion">Shamirpet</keyword>. This project investment is estimated to be about ₹400 crore and expected to generate employment to about 500 personnel." Rama Rao said, "I am delighted that Gland Pharma will be investing ₹400 crores in expanding their footprint in Hyderabad and will create 500 more jobs in Telangana." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/cereal-prices-likely-to-remain-elevated-going-in-fy24-crisil/articleshow/98093985.cms">Cereal prices likely to remain elevated going in FY24 : Crisil</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/india-inc-breaks-silence-on-adani-hindenburg-row/slidelist/98093730.cms">India Inc breaks silence on Adani-Hindenburg row</a>

Gland Pharma to invest ₹400 Cr to expand its Telangana plant

<ul class="summary-list"><li>American's spending on insulin increased to $22.3 billion in 2022 from $8 billion in 2012.</li><li>Grace Cochran said the costs of other vital diabetes treatments, like pumps, are still expensive. </li></ul>Last year, when Grace Cochran's father retired, she lost her parent-supported health insurance and got her own. But even with insurance, she said the costs of managing her type 1 diabetes are high.American's spending on insulin has tripled in the past decade, rising from $8 billion in 2012 to $22.3 billion in 2022, according to the <a target="_blank" href="https://diabetes.org/newsroom/press-releases/new-american-diabetes-association-report-finds-annual-costs-diabetes-be">American Diabetes Association</a>. Factors that contribute to the higher costs include limited flexibility for the <a target="_blank" href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8597930/#:~:text=Structural%20factors%20that%20contribute%20to,negotiations%20with%20pharmacy%20benefit%20managers.">federal government to negotiate drug prices</a>, along with a lack of pricing transparency in talks with pharmacy benefit managers, according to the National Institutes of Health. <a target="_blank" href="https://www.businessinsider.com/insulin-lifesaving-prescription-drug-so-expensive-pharma-industry-2019-1">The drug is cheap to produce</a> but is often sold for a significant profit by manufacturers.President Joe Biden tried to address the issue in August 2022 with the Inflation Reduction Act, which <a target="_blank" href="https://www.businessinsider.com/house-republicans-voted-biden-build-back-better-prescription-drugs-insulin-2022-3">capped insulin costs at $35 a month</a> for all seniors on Medicare. In the past year, pressure from the White House and the public pushed major insulin manufacturers like Eli Lilly and Sanofi to also adopt the cap for all patients with private insurance and uninsured patients who enroll in manufacturer assistance programs.However, others, like 25-year-old Cochran, are still seeking some relief for the costs of insulin and other necessary diabetes tools, like insulin pumps and continuous glucose monitors."That insulin price cap was huge, but it's not the only thing for so many diabetics that is expensive," said Cochran, a Charlotte, North Carolina-based nurse who was diagnosed when she was 7.<h2>Beyond insulin, Cochran needs to afford medical supplies</h2>Nearly 9 million people across the country rely on insulin to live, with as many as one in four being <a target="_blank" href="https://www.businessinsider.com/diabetic-diabetes-price-of-insulin-buying-groceries-killing-people-pharma-2021-9">unable to pay for the medicine they need</a>.While the costs of insulin have skyrocketed, and the direct medical costs of treating diabetes <a target="_blank" href="https://diabetes.org/newsroom/press-releases/new-american-diabetes-association-report-finds-annual-costs-diabetes-be">have also increased by about 7%</a> since 2017. This includes the costs of prescriptions, medical visits, and medical devices."They are necessary for quality of life and not finding yourself in the hospital every few weeks," Cochran said.Every day, Cochran doses insulin through her Omnipod, a small insulin pump attached to her arm that she must replace every three days. She also tracks blood sugar changes with a continuous glucose monitor.She can stay alive with just her insulin — which costs her about $25 a month — but she said her diabetes will not be well controlled if she can't also get her insulin pump and continuous glucose monitor at reasonable prices.For example, a glucose monitor might wake her up with an alert if her blood sugar drops to a dangerous level in her sleep."I'm not rationing things in a serious way, but I am kind of being more mindful of the supplies I'm using and trying to make things last longer," said Cochran, who <a target="_blank" href="https://www.tiktok.com/@grace_oliviat1d?lang=en">frequently posts TikToks</a> about her experience navigating the healthcare system as a diabetic. "It's how I push off spending all that money all at once."Earlier this month, Cochran posted a TikTok explaining that a 3-month supply of her insulin pumps would cost her $1,800, even after insurance. Cochran ended up borrowing Omnipods from another TikTok user and plans to replace them when she receives her next prescription.She said her community sometimes has to rely on each other to fill gaps in supply access, and Cochran has had situations where she temporarily switched to manual insulin injection when insulin pump supplies weren't available.Cochran's expenses can be unpredictable. Her continuous glucose monitor doesn't cost her anything right now, but in the past, she paid $30 a month with insurance. A blood sugar meter is also around $30, and test strips are almost $1 each. If Cochran's glucose monitor isn't working, she can use five to 10 test strips per day, and she estimates the device she uses to prick her finger is $12.To make matters worse, Cochran's doctors often prescribe insulin that her insurance doesn't cover.Different people may have increased sensitivity to different types and brands of insulin, Cochran said, but insurance companies sometimes only offer one option for coverage. She had been using the insulin brand Novolog for years before her new insurance confirmed it only covers Humalog. If she wants to switch back Novolog, she has to get special authorization — and she hopes the price won't go up."After living with an illness for 18 years, they're all of the sudden going to tell me what I can and can't use, which is just mind-boggling to me," Cochran said.Cochran said she often feels like the "middleman" between her healthcare providers and her insurance company. She makes between 15 and 20 calls a month to her doctor, pharmacist, and insurance company about when her supplies will be available, where she can pick them up, and whether her healthcare plan will cover the costs.She's still in the first few months of using her own insurance plan but expects to pay up to $3,000 before reaching her deductible.<h2>Insulin cap signals progress, but diabetics still need cost relief</h2>The $35 insulin cap is a step in the right direction for diabetes care, but only a patchwork solution, said Campbell Hutton, the vice president of regulatory and health policy at JDRF, a nonprofit research and advocacy organization for type 1 diabetes. Individuals should be able to choose the supplies that work best for them at a consistently affordable cost, she said.There is not yet data to show the full impact of the insulin price cap, but 2023 <a target="_blank" href="https://www.hhs.gov/about/news/2023/01/24/new-hhs-report-finds-major-savings-americans-who-use-insulin-thanks-president-bidens-inflation-reduction-act.html">reports by the US Department of Health and Human Services</a> suggest early beneficiaries of the Inflation Reduction Act could save over $500 a year on insulin.Meanwhile, a bipartisan bill that's in Congress would limit patient out-of-pocket costs for insulin, regardless of their insulin manufacturer, and make it easier for new generic and biosimilar drugs to enter the market. The bill <a target="_blank" href="https://www.congress.gov/bill/118th-congress/senate-bill/1269?s=1&amp;r=55">was introduced to the Senate</a> last April and continues to gain cosponsors.Are you a diabetic who has faced barriers to affording insulin? Have you experienced challenges in accessing medical care or prescription drugs? Reach out to <a target="_blank" href="mailto:allisonkelly@insider.com">allisonkelly@insider.com</a>.

A Gen Z diabetic said a 3-month supply of insulin pumps would cost her $1,800 &mdash; even with insurance

<ul><li><keyword id="12729243" type="UNKNOWN" weightage="60" keywordseo="biogen" source="Orion">Biogen</keyword> soared as much as 13% on Wednesday following a report of potential buyout interest.</li><li>The Korea Economic Daily said South Korea's <keyword id="10591" type="UNKNOWN" weightage="60" keywordseo="samsung" source="Orion">Samsung</keyword> Group is in negotiations to buy Biogen.</li><li>A potential deal would value the drug maker at more than $40 billion, according to the report.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/biib-stock">Biogen</a> stock soared as much as 13% on Wednesday following <a href="https://www.kedglobal.com/newsView/ked202112290011">a Korea Economic Daily report</a> that Samsung Group is in negotiations to acquire the Massachusetts-based <keyword id="11908912" type="UNKNOWN" weightage="60" keywordseo="biotech" source="Orion">biotech</keyword> company.The report, which cited investment banking sources, said Biogen could fetch a valuation of more than $42 billion. That would represent at least a 22% premium from Tuesday's close. Biogen is up only 5% year-to-date, but <a href="https://markets.businessinsider.com/news/stocks/Biogen-stock-price-key-fda-decision-alzheimers-drug-approval-rejected-2021-6">it was up about 70% earlier this year</a> following the FDA's approval of its controversial Alzheimer's therapy, Aduhelm. The drug, which hasn't shown evidence of reversing or curing Alzheimer's disease, has <a href="https://markets.businessinsider.com/news/stocks/Biogen-stock-price-two-hospitals-refuse-prescribing-alzheimers-drug-2021-7">seen little uptake by doctors</a> who are skeptical of its effectiveness and high price tag of $56,000.In the third quarter, Aduhelm generated only $14 million in revenue, reaching only 2% of its targeted patients, according to the report. Biogen <a href="https://investors.biogen.com/news-releases/news-release-details/biogen-announces-reduced-price-aduhelmr-improve-access-patients">announced last week</a> that it wou ultimately cut its price almost in half "Samsung is at the negotiating table with the sell side to acquire Biogen," the report said, citing a senior official at a global investment bank. The deal would represent Samsung's largest acquisition since it bought Harman for $8 billion in 2016.While most know Samsung for its Galaxy smartphones and electrical appliances, the South Korean-based conglomerate also operates in the healthcare field, making biosimilar drugs.Samsung formed its biosimilar drug unit with biogen as a joint venture in 2011, with Samsung owning the controlling stake. That joint venture has hindered Samsung's ability to make some biosimilar drugs that would impede on Biogen's drug sales. A potential combination of the two companies would remove that hurdle.

Biogen soars 13% on report of potential acquisition by South Korea's Samsung Group

<keyword id="72130" type="PERSON" weightage="20" keywordseo="Zydus-Cadila">Zydus Cadila</keyword> launched Trastuzumab Emtansine, the first Antibody <keyword id="6373457" type="UNKNOWN" weightage="20" keywordseo="drug">Drug</keyword> Conjugate (<keyword id="68816" type="COMPANY" weightage="20" keywordseo="ADC">ADC</keyword>) biosimilar and a highly effective drug for treating both Early and Advanced HER2 positive <keyword id="16070" type="COMPANY" weightage="20" keywordseo="breast-cancer">Breast Cancer</keyword>, under the brand name '<keyword id="11309834" type="COMPANY" weightage="20" keywordseo="Ujvira">Ujvira</keyword>'. HER2 positive Breast Cancer is considered an aggressive form and constitutes 20 to 25 per cent of all Breast Cancers. In a step that can significantly reduce treatment cost by almost 80 per cent, the drug is being offered at Rs 32,495 for a 100 mg vial. The current MRP of existing Trastuzumab Emtansine drug is Rs 1,59,225 for 100 mg vial. Ujvira will be available in two strengths, 100 mg and 160 mg. Speaking on this milestone, Sharvil Patel, Managing Director, Cadila Healthcare Limited said, "The launch of Ujvira reinforces the innovation capabilities that India has to be able to create complex therapies like ADCs and <keyword id="6559680" type="LOCATION" weightage="20" keywordseo="zydus">Zydus</keyword>' ongoing commitment to offer breakthroughs backed by science and innovation. This research breakthrough enables access to a critical drug for patients who are undergoing therapy for Breast Cancer. We hope that with this innovation, patients will be able to adhere to the treatment and stand to benefit from the advanced technology without worrying about the cost of the treatment." Trastuzumab Emtansine ADC biosimilar is developmental breakthrough due to its complexity in manufacturing and similarity assays. This drug is made by combining Trastuzumab and a cytotoxic compound Emtansine (DM1) with the help of a stable linker by a process called Antibody Drug Conjugation. Due to this technology the targeted delivery of the cytotoxic agent is enabled and the other toxicities on body are reduced. Ujvira is backed up with rigorous drug development programme. Patients already treated with Trastuzumab may still have the disease and would require this therapy as the next step. The high cost of therapy is a barrier to availing this therapy and Ujvira bridges this need. With more than 2.1 lakh new cases in 2020, Breast Cancer is the leading cancer in females in India and the risk increases with age. It is estimated that 1 in 29 women in India has a risk of developing Breast Cancer in her lifetime. Though rare, the incidence of HER2 Breast Cancer is also found in men. Other risk factors such as obesity, family history, genetics, alcohol, smoking, hormonal imbalance and improper diet have been identified as the contributing factors towards an increased incidence of Breast Cancer. SEE ALSO <a target="_blank" class="c-link" href="https://www.businessinsider.in/stock-market/news/tata-steel-interglobe-aviation-hero-motocorp-and-other-stocks-to-watch-out-for-on-may-24/slidelist/82898500.cms">https://www.businessinsider.in/stock-market/news/tata-steel-interglobe-aviation-hero-mot[…]-stocks-to-watch-out-for-on-may-24/slidelist/82898500.cms</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/india/news/the-number-of-working-women-in-india-has-been-steadily-declining-heres-why/articleshow/82823052.cms">The number of working women in India has been steadily declining, here’s why</a> <a target="_blank" class="c-link" href="https://www.businessinsider.in/tech/apps/news/indian-government-asks-whatsapp-to-scrap-its-privacy-policy-calls-it-unfair-and-discriminatory/articleshow/82796725.cms">Indian government threatens legal action against WhatsApp’s new privacy policy – WhatsApp refuses to back down</a>

Zydus Cadila launches drug for treating breast cancer under the brand name 'Ujvira'

New Delhi, Jan 6 () Biotechnology major Biocon on Monday said private equity firm True North will invest Rs 536.25 crore to acquire 2.44 per cent stake in its arm Biocon Biologics, valuing the subsidiary at Rs 21,450 crore on a pre-money equity basis.
 The board of Biocon Biologics India Ltd has approved a primary equity investment by True North. As per the terms of the proposed agreement, True North will invest Rs 536.25 crore and will eventually translate to a 2.44 per cent minority stake in the biosimilars business after all restructuring, including the filed merger of Biocon Research Ltd with Biocon Biologics, Biocon said in a filing to the BSE.
 This values Biocon Biologics at Rs 21,450 crore or around USD 3 billion, on a pre-money equity basis, it added.
 "This investment is an endorsement of the value that Biocon Biologics has demonstrated as a global biosimilars player, having commercialised three of its molecules in developed markets such as the EU, the US, Japan and Australia," Biocon Chairperson and MD Kiran Mazumdar-Shaw said.
 This is at an important inflection point as, "we gain commercial success with our first wave of Biosimilar products and invest in the long term through broadening our pipeline, expanding our manufacturing capacity and increasing our commercial footprint," she added.
 In similar vein, Biocon Biologics CEO Christiane Hamacher said the investment by True North in Biocon Biologics reflects a high level of conviction in Biocon Biologics' status as a global frontrunner in biosimilars that is leveraging its large-scale manufacturing capabilities to shift the access paradigm for these life-saving therapies.
 "True North has had a long successful association with Kiran Mazumdar-Shaw and the entire Biocon team and see them as pioneers and leaders in specialised niches," True North partner Satish Chander said.
 True North is happy to associate with them for the third time through this investment in Biocon Biologics. Biosimilars is a fast-growing industry that addresses a fundamental need of bringing affordability to specialised effective biologic products, he added.
 Biocon Biologics has a product pipeline of 28 molecules, including 11 with Mylan, several with Sandoz, and is developing many independently.
 Shares of Biocon Ltd were trading at Rs 287.40 per scrip on the BSE, down 4.53 per cent from its previous close. AKT HRS

True North to invest Rs 536.25 crore in Biocon Biologics for 2.44 pc stake

<ul><li>Biocon Limited share price fell over 3% despite a 14% jump in revenue between April and June 2020. </li><li>The research and development expenditure went up 35% and pushed the profit down by a quarter compared to the same time last year </li><li>However, Syngene, where Biocon owns 70% stake, has projected a double-digit revenue growth for the rest of the financial year. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul> The Bengaluru-based biopharmaceutical company Biocon Limited share price fell over 3%. Investors were disappointed by the 26% fall in profit to ₹167.8 crore ⁠— despite a 14% rise in revenue⁠— between April and June 2020 compared to a year earlier. However, the shares of its subsidiary Syngene, the integrated research, development and manufacturing company, where Biocon owns 70% stake, is up and about with gains of over 5%— the rally is close to 13% in the last two days. <div type="image" title="BIocon" msid="77146419" hostid="261"></div> The pain in Biocon Biocon, executive chairperson, <keyword id="6413985" type="PERSON" weightage="20" keywordseo="kiran-mazumdar-shaw">Kiran Mazumdar-Shaw</keyword> said, “Profitability for the quarter was impacted due to higher R&amp;D spend, lower profit share in the biosimilars business, and lower profitability in the research services segment.” The company spent 35% more on the research and development as the COVID-19 pandemic peaked. However, research services (which made for a quarter of the company’s revenue) didn’t grow at all. The revenue from the segment was ₹422 crore, unchanged from a year ago. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue Growth </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Contribution to Revenue </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Generics </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">35.40% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Biosimilars </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">40.90% </td></tr><tr><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Research Services </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0 </td><td style="border-left:solid #000000 0.9960975000000001pt;border-right:solid #000000 0.9960975000000001pt;border-bottom:solid #000000 0.9960975000000001pt;border-top:solid #000000 0.9960975000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24.90% </td></tr></tbody></table> Syngene looks to return to growth COVID-19 impacted performance at Syngene with Q1 profits dropping 19% due to temporary suspension of operations on back of the lockdown; revenues were flat at `437 crores year-on-year. Margins held steady at 32%, driven by savings in raw material costs and certain operational efficiencies. The biggest takeaway was Syngene’s optimistic guidance - the management expects to see double-digit growth for the rest of the year. Future outlook from Biocon Earlier this month, the Drugs Controller General of India (DCGI) granted ‘restricted emergency use approval’ for Itolizumab, our novel anti-CD6 biologic therapy for the treatment of cytokine release syndrome (CRS) in COVID-19 patients with moderate to severe acute respiratory distress syndrome (ARDS). The company also received the <keyword id="44669" type="COMPANY" weightage="20" keywordseo="USFDA">USFDA</keyword> approval for Semglee, which will enable it to expand patient access to the Insulin Glargine through its partner Mylan. The company also targets to have at least eight biosimilars available in developed markets by the end of next financial year through its partner, — namely Trastuzumab, Pegfilgrastim, Adalimumab, Bevacizumab, Etanercept, Insulin Glargine, <keyword id="9635486" type="PERSON" weightage="20" keywordseo="insulin-aspart">Insulin Aspart</keyword> and RH-Insulin. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/after-google-pwc-india-declares-a-company-wide-holiday-for-its-employees-this-friday-offers-time-off-for-a-well-deserved-break/articleshow/77125627.cms">After Google, PwC India declares a company-wide holiday for its employees this Friday – offers time off for a 'well-deserved' break</a> <a href="https://www.businessinsider.in/thelife/personalities/news/mukesh-ambani-is-now-the-fifth-richest-person-in-the-world-according-to-forbes/articleshow/77105843.cms">Mukesh Ambani is now the fifth richest person in the world, according to Forbes</a> <a href="https://www.businessinsider.in/business/corporates/news/tcs-infosys-hcl-tech-dont-want-h1b-ban-but-are-pocketing-savings-while-it-lasts/articleshow/77120776.cms">The H1-B visa ban is not what Indian IT firms want⁠— but they are pocketing some savings while it lasts</a>

Biocon shares are depressed itself but Syngene can offer a shot of hope

New Delhi, Nov 27 () Biotechnology major Biocon on Wednesday said that US health regulator has approved its and Mylan's supplemental biologics licence application for a drug substance to be manufactured at its new facility in Bengaluru.
 "Biocon and Mylan's supplemental biologics licence application (sBLA)..for pegfilgrastim drug substance to be manufactured in Biocon's new Biologics manufacturing facility has been approved by the US Food and Drug Administration (USFDA)," the company said in a filing to BSE.
 This additional approval of its new manufacturing facility for pegfilgrastim in Bengaluru will enable the biotechnology major to enable its arm Biocon Biologics and Mylan to scale up capacity multi-fold and address the growing market opportunities in US and other global markets, the company said.
 Biocon Biologics CEO Christiane Hamacher said, "This approval will help us better meet global patient needs for Fulphila, a high quality biosimilar pegfilgrastim co developed with Mylan and manufactured by Biocon Biologics".
 Biocon Biologics, through its partner Mylan, has commercialised three of its co-developed biosimilars in developed markets like the US, Canada, the European Union and Australia.
 The USFDA had conducted pre-approval inspection of this new drug substance manufacturing facility from September 10-19, 2019.
 Shares of the company were trading at Rs 277.45 apiece in morning trade on BSE. SID ANS
ANS

You Searched For "biosimilars" and got 13 results

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A Gen Z diabetic said a 3-month supply of insulin pumps would cost her $1,800 even with insurance

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