Biocon Shares Hit 52-Week High, Up 3% on EMA Nod

Biocon shares hit a 52-week high of Rs 447.15 on Thursday, up 3%, after its Malaysia unit won EMA approval for a new insulin production line.

Here’s what actually happened. The European Medicines Agency (EMA) has cleared a new “fill finish” line at Biocon’s insulin plant in Johor, Malaysia.

Think of it as the final packaging stage of manufacturing, where the drug is filled and sealed before it leaves the factory. This particular line will be used for Semglee, the company’s insulin glargine product used to treat diabetes.

Biocon said in its exchange filing that supplies to Europe from this new line are expected to begin from the second quarter of FY27. That’s roughly nine months away.

For a company that already runs one of Asia’s largest insulin plants, this adds fresh export capacity aimed squarely at one of its biggest markets. There’s also a bigger story running in the background.

Biocon shares have gained 9% over the past three trading days, largely because Mylan, a Viatris unit, sold off its entire 5.64% stake in the company.

The block deal saw around 9.19 crore shares change hands at an average price of Rs 400, worth roughly Rs 3,679 crore, and went through on Tuesday.

Big domestic buyers stepped in, including ICICI Prudential, HDFC and SBI Mutual Fund, along with Morgan Stanley Asia Singapore.

A large shareholder exiting like this often clears an overhang on a stock, and that seems to be adding to this week’s momentum too.

On the financial side, Biocon’s fourth-quarter results showed total income of Rs 4,569 crore, up 10% from a year earlier, with EBITDA at Rs 1,073 crore.

At 11:30 am, Biocon shares were trading at Rs 443.60 on the NSE, up 2,07% for the day. The stock is now up close to 10% over the past week and has gained more than 14% since the start of the year.

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