Biocon bounces back as FDA report hints at Herceptin biosimilar recommendation

12 July 2017

Monday might have been a bad day for the biosimilar development partnership of Indian drugmaker Biocon (BSE: 532523) and Netherlands-headquartered Mylan (Nasdaq: MYL) as a manufacturing setback held up its plans for the European market.

But Wednesday has been a much better day as investors ponder what a positive US Food and Drug Administration (FDA) report might mean for the companies’ development of a biosimilar version of the blockbuster cancer drug Herceptin (trastuzumab).

Thursday could be an even better day, as that is when the FDA’s Oncologic Drugs Advisory Committee will decide whether to recommend for approval the Biologics License Application (BLA) for MYL-1401O.

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