Biocon share price jumps 4% as subsidiary secures market entry for Yesafili in US
Biocon share price jumped over 4% on Tuesday after the company announced that its subsidiary has secured market entry date for Yesafili, an interchangeable biosimilar to Eylea, in the US. Biocon shares spiked as much as 4.06% to ₹329.40 apiece on the BSE.
Biocon Biologics Ltd, a subsidiary of Biocon, announced a settlement and license agreement with Regeneron that clears the way to commercialize Yesafili (aflibercept-jbvf), an interchangeable biosimilar aflibercept, in the United States.
Yesafili, a vascular endothelial growth factor (VEGF) inhibitor, is used to treat several different types of ophthalmology conditions, and is a biosimilar of its reference product EYLEA (aflibercept).
Biocon Biologics and Regeneron executed the settlement agreement to dismiss the pending appeal at the United States Court of Appeals for the Federal Circuit (USCAFC) of a patent and the pending litigation at the US District Court for the Northern District of West Virginia, Clarksburg Division, Biocon said in a regulatory filing on April 15.
This agreement enables Biocon to launch in the United States in the second half of calendar year 2026 or earlier in certain circumstances.
“This settlement clears the path for Biocon Biologics to be among the first to bring a reliable, high-quality aflibercept biosimilar to patients and healthcare providers in the United States. As the first-to-file interchangeable biosimilar to Eylea, YESAFILI affirms our scientific strength and marks our strategic entry into Ophthalmology, expanding our footprint in the US and advancing our mission to increase access to life-changing treatments,” said Shreehas Tambe, CEO & Managing Director, Biocon Biologics Ltd.
Previously, the US Food and Drug Administration approved Yesafili (afliberceptjbvf), an interchangeable biosimilar aflibercept in May 2024. Additionally, Biocon Biologics secured a settlement agreement in Canada with Bayer Inc. and Regeneron Pharmaceuticals, Inc., for the launch of YESAFILI no later than July 1, 2025, Biocon said.
Biocon Stock Price Trend
Biocon share price has gained 1.6% in one month, but the stock has declined 11% on a year-to-date (YTD) basis. Biocon shares have rallied 23% in one year and more than 46% in two years.
Over the past ten years, Biocon share price has delivered multibagger returns of 312%.
At 12:00 PM, Biocon shares were trading 3.68% higher at ₹328.20 apiece on the BSE.
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