India's Biocon climbs on EU nod to generic diabetes, weight-loss medication

Zentiva SA

24/12/2024 06:31

** Shares of Biocon  BION.NS  climb 4% to 342.50 rupees
    ** Stock top pct gainer on Nifty pharma index  .NIPHARM 
which is up 0.3%
    ** Co says it, along with European partner Zentiva
 ROSCD.BX , has received decentralized procedure approval for
Liraglutide in the EU
    ** Liraglutide is a generic version of Victoza for treating
type 2 diabetes and Saxenda for weight management
    ** BION among 11 stocks on 20-member pharma index rated
"hold" on avg - LSEG data
    ** YTD, BION has risen about 37% vs pharma index's 35% climb

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))