shares gained up to 3% after around 1% of the company’s equity changed hands in a ₹635-crore block deal. The stock also gained support from management commentary that its biosimilars business could soon reach $1 billion in revenue, driven by strong demand for insulin and newer products. Around 1.65 crore Biocon shares were traded on the BSE at ₹385 per share, taking the transaction value above ₹635 crore. The block deal price was around 1.9% below the previous closing price. True North-owned Active Pine was reported to be the likely seller, with the investor holding a 1.08% stake as of June 30. Separately, Biocon said it expects double-digit revenue growth in its biosimilars business and is targeting margins in the mid-20% range. The company is seeing strong demand for insulin, while newer products such as aflibercept are adding to growth prospects. Biocon has not committed to a specific timeline for reaching the $1 billion revenue milestone.

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