Mumbai, 16 December (Udaipur Kiran) — Shares of Biocon moved higher on Monday after the company announced the launch of its GLP-1 peptide, Liraglutide, in the Netherlands for diabetes and obesity management.

The stock was trading at Rs. 391.30, up 1.20% from its previous close of Rs. 386.65. It opened at Rs. 387.45 and touched an intraday high of Rs. 391.40. As many as 60,966 shares were traded on the counter. The scrip has a 52-week high of Rs. 424.95 and a 52-week low of Rs. 290.80.

Over the last week, the stock recorded a high of Rs. 395.50 and a low of Rs. 375.90. Biocon’s current market capitalisation stands at Rs. 52,021.26 crore. Promoters hold 54.45% in the company, while institutions and non-institutional investors hold 28.71% and 16.83% respectively.

Biocon said it has launched Liraglutide for diabetes (gVictoza) and obesity (gSaxenda) in the Netherlands through its distribution partner Pharmamedic B.V. The drug-device combination will be marketed under the brand names Diavorin (diabetes) and Vobexoryn (chronic weight management).

The launch follows approval earlier this year from the Netherlands’ Medicines Evaluation Board (MEB) and marks the first EU country where Biocon is directly introducing Liraglutide under its own branding.

Biocon remains India’s largest and Asia’s leading biotechnology company, focused on biopharmaceuticals and research services, providing affordable solutions for chronic diseases globally.