Biocon Rallies 5% On Novel Therapy Launch For Hepatitis C

Business

oi-Sunil

By Sunil Fernandes

Published: Thursday, December 24, 2015, 11:46 [IST]

Shares in Biocon surged 5.70 per cent after the company introduced an advanced novel therapy CIMIVIR-L for the treatment of Hepatitis C in India.

The stock was last trading higher by 5.70 per cent on the NSE at Rs 567. "The introduction of CIMIVIR-L will strengthen Biocon's current portfolio of verilogy products," the company said in a release to the bourses.

CIMIVIR-L, a once-a-day oral therapy, will offer a convenient, effective and safe alternative to people infected with the Hepatitis-C virus (HCV).

"It is estimated that nearly one lakh people die annually in India from HCV infection and co-morbidities. CIMIVIR-L is indicated for Hepatitis-C Genotype 1 patients who account for ~25% of the total estimated HCV patient population of 18 million in the country," the company said in a release.

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