Biocon arm gets USFDA approval for insulin, Kirsty
Kirsty is biosimiler to Novolog. It is a rapid-acting human insulin analog indicated to improve glycemic control in adults and pediatric patients with diabetes mellitus. It will be available as a single-patient-use prefilled pen for subcutaneous use and a multiple-dose vial for subcutaneous and intravenous use.
The FDA approval of KIRSTY expands Biocon Biologics biosimilar insulin portfolio, which also includes the first approved interchangeable biosimilar, Semglee (Insulin Glargine-yfgn Injection). KIRSTY has been available in Europe and Canada since 2022.
According to IQVIA, there are 38.4 million people with diabetes in the United States, approximately 11.6 percent of the total population, with nearly a quarter of them being undiagnosed. An additional 97.6 million Americans have been identified as prediabetic. Sales of Insulin Aspart in the United States were approximately $1.9 billion in 2024.
Shreehas Tambe, CEO & managing director, Biocon Biologics, said: The FDA approval of Kirsty, the first and only interchangeable biosimilar rapid-acting Insulin Aspart in the U.S., is a significant step forward in our efforts to make insulin more accessible and affordable. It builds on the foundation we laid with Semglee, reinforcing our commitment to scientific excellence and patient centric innovation. With Kirsty, we are expanding treatment choices for people living with diabetes and advancing our ambition to be a global leader in addressing unmet needs in diabetes care.
Biocon is a global biopharma company dedicated to improving affordable access to therapies for chronic conditions like diabetes, cancer, and autoimmune diseases.
The companys consolidated net profit surged 154.2% to Rs 344.50 crore on a 12.8% jump in net sales to Rs 4,358.10 crore in Q4 FY25 over Q4 FY24.
The counter jumped 2.90% to settle at Rs 390.20 on the BSE.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
31 minutes ago
- Time of India
Insurer rejects mediclaim citing 'mismatch' over Google Timeline; consumer forum gives man relief
Valsad: A Gujarat resident was shocked when an insurance company rejected his mediclaim on the grounds that his Google Timeline did not match the location of the hospital that had treated him. The man from Silvassa had to knock on the door of the Consumer Dispute Redressal Forum in Valsad district, which ruled in his favour and directed the company to settle the claim with interest. In its order of July 14, made available recently, the president of the consumer forum, B G Dave, directed the firm to pay Rs 48,251 (mediclaim amount) with 8 per cent interest within 30 days of the order. Vallabh Matka, who had a mediclaim policy from Go Digit General Insurance Limited, was admitted to a private hospital in Silvassa in September 2024 for four days after he contracted viral pneumonia. After his discharge, Matka submitted medical bills to the insurance company for reimbursement. However, it rejected the claim, saying there were discrepancies over his Google Timeline. Google Timeline, earlier called Location History, creates a map of the places a person has been and the routes the individual has taken on each of their devices. Left with no option, Matka approached the consumer forum, a quasi-judicial body with the power to make decisions and resolve certain disputes like a court. After being issued a notice, the company told the forum that there were many inconsistencies concerning Matka's claim. "Upon internal verification of the claim, we noted that there are multiple discrepancies in submitted bills, indoor case papers and we have also noted discrepancies from insured statement to his verified Google Timeline," the company told the forum. As per the customer's statement, his phone was with him during hospitalisation, but as per Google Timeline, "the hospital location was not found in the patient's Google Map", it said. The forum, however, relied on the hospital's statement and other records. "In the report by the insurance company, it has said that the patient was admitted to the hospital and received treatment but it seems that they wanted to reject the claim and are giving false reason that the Google map timeline is not matching," the forum said, ordering the firm to settle the claim and pay 8 per cent interest. PTI
Time of India
an hour ago
- Time of India
KRT IPO: Sattva-Blackstone backed REIT gets Sebi nod for Rs 4,800 crore raise; public issue likely to hit markets early August
Knowledge Realty Trust (KRT), a REIT sponsored by Sattva Group and Blackstone, has received approval from the Securities and Exchange Board of India (Sebi) to go ahead with its Rs 4,800-crore initial public offering . The public issue is expected to hit the market in the first week of August, according to PTI citing sources. Ahead of the IPO, KRT has already mobilised Rs 1,400 crore from institutional investors. The company had filed its draft red herring prospectus (DRHP) in March this year, as part of its plan to monetise 30 premium office assets spread across key Indian cities, ANI reported. The REIT owns over 46 million sq ft of rent-yielding office properties across 29 locations in Mumbai, Bengaluru and Hyderabad. Notable assets include One BKC and One World Center in Mumbai, Knowledge City and Knowledge Park in Hyderabad, and Cessna Business Park and Sattva Softzone in Bengaluru. Sources said the roadshow will begin this week, and the price band announcement is expected by August 30. Post listing, KRT is poised to become India's largest REIT by gross asset value, pegged at around Rs 62,000 crore. Its net operating income stood at Rs 3,432 crore in FY24. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Do You Speak English? You May Be Able To Work a USA Job From Home in Bangladesh US Jobs | Search ads Undo Following the IPO, sponsors Sattva Group and Blackstone will retain around 80% ownership in the trust. While Sattva declined to comment, sources said the trust will continue to adopt a brand-neutral approach, focusing on inorganic growth through third-party acquisitions. There are currently four REITs listed in India — Brookfield India Real Estate Trust, Embassy Office Parks REIT, Mindspace Business Parks REIT, and Nexus Select Trust. Except for Nexus, which is focused on retail spaces, the others are anchored in office real estate. Together, these four REITs manage over 126 million sq ft of Grade A office and retail space and have distributed over Rs 21,000 crore to unitholders since inception. Sattva Developers, headquartered in Bengaluru, has completed over 74 million sq ft of projects across seven cities, spanning commercial, residential, co-living, co-working, hospitality, and data centres. Another 75 million sq ft is currently in various stages of development. Global investment firm Blackstone continues to hold a substantial portfolio in India's commercial real estate sector. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
an hour ago
- Economic Times
Lenskart secures shareholder nod to raise Rs 2,150 crore via IPO
Shareholders of omnichannel eyewear brand Lenskart have approved its initial public offering (IPO) plans, according to regulatory filings sourced from the Registrar of Companies (RoC).At its annual general meeting on Saturday, Lenskart's shareholders cleared the proposal to raise Rs 2,150 crore ($250 million) through the IPO. The total issue size is likely to be as much as $1 billion, according to people aware of the matter. One of the sources said the company is set to file its draft red herring prospectus (DRHP) with Securities and Exchange Board of India (Sebi) in the coming days. With this, Lenskart will join other large new-age firms like Groww, Meesho, PhysicsWallah, and Pine Labs that are filing IPO documents this year. In total, nearly 14 venture-backed new-age companies are aiming to raise over Rs 20,000 crore from the public markets in 2025. Filings also showed that Lenskart's shareholders, including SoftBank, Kedaara Capital, Abu Dhabi Investment Authority, Fidelity and Temasek, have approved a new employee stock option plan, Esop 2025, comprising 7.2 million shares. Data from Tracxn shows that about 19% of Lenskart's shares are currently earmarked for its Esop pool. ET had reported on July 10 that Lenskart plans to issue additional shares to founder and CEO Peyush Bansal through a structured payout, which may increase his holding by 1.5-2%. Bansal and his sister Neha Bansal, also a cofounder, together own 14-15% of the company. Lenskart, which won The ET Startup Awards 2024 in the Startup of the Year category, operates in India and other markets such as the Middle East, Southeast Asia, Australia, Japan and South Korea. In FY24, Lenskart's operating revenue grew 43% year-on-year to Rs 5,428 crore, while its net loss narrowed to Rs 10 crore from Rs 64 crore in FY23. In an October interview with ET, Peyush Bansal said the company is investing $200 million in a new manufacturing plant in southern India. Currently, Lenskart makes frames and lenses at its facility in Rajasthan. Lenskart's last round of funding in June 2024 valued the company at $5 billion. US-based Fidelity marked up the valuation of the omnichannel eyewear retailer by more than a fifth to $6.1 billion at the end of April. The company's omnichannel strategy, combining its website with more than 2,500 retail outlets, has been a major growth driver. While online sales have outpaced store sales growth in the past two to three years, Lenskart continues to expand its offline footprint also showed that Lenskart has appointed PaySense cofounder Sayali Karanjkar and IndMoney founder Ashish Kashyap as independent directors on its Bansal has been named chairman, managing director and CEO of Lenskart, while Neha Bansal has been appointed executive director. Cofounder Amit Chaudhary has been named an executive director on the board.
