EU approval for Biocon's Crestor generic

15 February 2016

India’s Biocon (BSE: 532523), a leading biosimilars and generics drugmaker, saw its shares gain 4.8% to 464.30 rupees by midday today, after it announced its first generic formulation approval to make rosuvastatin calcium tablets in the European Union.

The drug is a copy version on Anglo-Swedish pharma major AstraZeneca’s (LSE: AZN) blockbuster cholesterol lowerer Crestor. Biocon says launch of its generic in Europe is planned for 2017. Biocon also plans to file an Abbreviated New Drug Application for its generic in the USA.

Sees $1.2 billion market opportunity

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