major update regarding cancer drug :

BIOCON

Shares may jump

Stock Performance Shares of Biocon will be in focus on Friday after the pharma major said its subsidiary Biocon Biologics received U.S. Food and Drug Administration approval for Jobevne (bevacizumab-nwgd), a biosimilar Bevacizumab. Biocon stock ended 5.33% lower at Rs 305.20 on Wednesday against the previous close of Rs 322.40 on BSE, touching an intraday low of Rs 303.85. About Jobevne (Bevacizumab-nwgd) JOBEVNE, a recombinant humanized monoclonal antibody, is a biosimilar to the reference product Avastin (bevacizumab). It is a vascular endothelial growth factor (VEGF) inhibitor that binds with VEGF and blocks the interaction with its receptors to prevent angiogenesis, effectively combating cancer by restricting blood supply to the tumor. Expanding Biocon's Oncology Portfolio The approval of JOBEVNE expands Biocon Biologics' biosimilar oncology portfolio in the United States, which also includes OGIVRI (Trastuzumab-dkst) and FULPHILA (Pegfilgrastim-jmdb). The company also markets Bevacizumab in Europe (approved February 2021) and Canada (approved November 2021) under the name ABEVMY. Shreehas Tambe, CEO & Managing Director, Biocon Biologics, said the U.S. FDA approval of JOBEVNE is a significant milestone and a strong addition to their robust oncology portfolio.