The shares of Biocon Biologics Ltd were trading at ₹316.4 up by ₹10.15 or 3.31 per cent on the NSE today at 11 am.
Biocon Biologics Ltd, a subsidiary of Biocon Ltd, announced that the U.S. Food and Drug Administration has approved Jobevne (bevacizumab-nwgd), its biosimilar version of the cancer drug Avastin.
The newly approved drug is a vascular endothelial growth factor inhibitor used to treat several types of cancer, including metastatic colorectal cancer, non-small cell lung cancer, and various forms of ovarian cancer. It works by blocking blood supply to tumors.
Jobevne marks Biocon Biologics’ seventh biosimilar approved in the U.S. market and expands the company’s oncology portfolio, which already includes Ogivri and Fulphila. The company also markets bevacizumab in Europe and Canada under the name Abevmy.
“The U.S. FDA approval of Jobevne is a significant milestone that underscores our scientific expertise and commitment to expanding access to high-quality, affordable biologics,” said Shreehas Tambe, CEO and Managing Director of Biocon Biologics.
The approval was based on comprehensive comparative data showing no clinically meaningful differences between Jobevne and Avastin in terms of pharmacokinetics, safety, efficacy, and immunogenicity.
According to Biocon, U.S. sales of bevacizumab reached approximately $2 billion in 2023. The company currently serves over 5 million patients annually and has a development pipeline of 20 biosimilar assets across multiple therapeutic areas.
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Published on April 11, 2025