Biocon edges higher after biologics arm secures multiple market access deals for Yesintek
Biocon advanced 3.17% to Rs 328.75 after Biocon Biologics (BBL) secures multiple market access agreements in the United States for Yesintek (ustekinumab-kfce), its biosimilar to Stelara (ustekinumab), covering over 100 million lives.
These agreements include key placements on national and regional formularies.
Express Scripts added Yesintek to its National Preferred Formulary (NPF) effective 21 March 2025. Cigna included Yesintek on its commercial formulary starting 21 March 2025. UnitedHealthcare has added Yesintek to various formularies: commercial from 01 May 2025; managed Medicaid from 01 March 2025; and Medicare from 01 June 2025.
CVS Health will include Yesintek beginning 01 July 2025, and Optum Rx will add it to its premium and select formularies from 01 July 2025.
Furthermore, Yesintek has been selected on formularies by Navitus, Costco Health Solutions, MedImpact, Priority Health, University of Pittsburgh Medical Center (UPMC), and numerous other regional health plans.
Notably, Blue Cross Blue Shield of Michigan (BCBSM), Florida Healthcare Plan, and several closed-door health systems have designated Yesintek as their exclusive ustekinumab product.
BBL is also in the final stages of securing formulary agreements with additional commercial carriers, the company stated.
Yesintek, a monoclonal antibody that inhibits IL-12 and IL-23 signaling associated with immune-mediated diseases, received U.S. FDA approval in December 2024.
It is approved for the treatment of Crohns disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis.
Shreehas Tambe, CEO & managing director, Biocon Biologics, said: Yesintek (Ustekinumab kfce) represents an important milestone for Biocon Biologics, as this is the first product we have launched in the United States as a fully integrated biosimilars company.
The strong adoption of Yesintek by payors in the U.S. reflects their confidence in our science, supply reliability, and commercial capability.
Biocon Biologics, a subsidiary of Biocon, is a fully integrated, global biosimilars company. It has commercialized eight biosimilars in key emerging markets and advanced markets. It has a pipeline of 12 biosimilar assets under development across diabetology, oncology, immunology, ophthalmology, and other non-communicable diseases.
Biocon is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets.
Biocon is a biopharmaceutical company manufacturing APIs, and generic formulations. It is also involved in research and development.
The companys consolidated net profit declined 96.2% to Rs 25.10 crore in Q3 FY25 as compared with Rs 660 crore in Q3 FY24. Net sales increased 6.3% to Rs 3773 crore in Q3 FY25.
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