The Biocon Pharma received approval for Diabetes 2 type insulin injection from MHRA ( London Mediacal and health care Regulatory Agency. Already they got approval for Diabetes 1 type insuling from US FDA, it crossed $425 million project.
In the morning trading session on March 28, the shares of Biocon experienced a rise of over 2 percent. This surge was attributed to the announcement that the company had obtained approval from the Medicines and Healthcare Products Regulatory Agency (MHRA) in the UK for its diabetes drug.
Biocon had submitted an application for approval of its complex formulation, Liraglutide (6mg/ml solution for injection in pre-filled pen), which is utilized in the treatment of Type 2 diabetes mellitus. This disorder is characterized by the body’s insufficient production of insulin or an abnormal response to insulin, resulting in elevated levels of blood sugar (glucose). The approval process was facilitated through Biocon’s European partner, Zentiva.
BIOCON LTD Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel
CEO Siddharth Mittal highlighted the significance of the approval of Liraglutide, emphasizing it as a significant milestone for Biocon. He noted that being the first generic Liraglutide to receive approval in a major regulated/ICH market, it further strengthens Biocon’s position as a leader in delivering pioneering healthcare solutions. Mittal also underscored the company’s track record of introducing innovative products, such as bTrastuzumab, bPegfilgrastim, and the first interchangeable biosimilar Insulin Glargine, which had been approved by the US FDA.
In its regulatory filing, Biocon provided insights into the market opportunity for GLP-1 in diabetes and weight loss in the UK, citing data from IQVIA MAT Q4 2023, which valued the total addressable market opportunity at $425 million.
Additionally, Biocon recently announced a long-term commercial collaboration through its subsidiary, Biocon Biologics, with Eris Lifesciences. This collaboration aims to enhance patient access to Biocon’s portfolio of metabolics, oncology, and critical care products in India. The total transaction value for this collaboration amounted to Rs 1,242 crore, representing a favorable multiple of 3.4 times of revenue and 18 times of EBITDA, as stated by the company in its exchange filing.
The Cyient Aerospace innovation technology company tie up with German Original manufacturer company Deutsche for manufacturing real fuselog cabin of 40 seater D328eco Aircraft.
This order is the big deal for this company. Already Airbus tie up with Cyient for Cabin and Cargo Engineering in Aircrafts.
CYIENT LTD Market Price is moving in Ascending channel and market has reached higher low area of the channel
Cyient shares climb 2% on partnership with Deutsche Aircraft
In early trade on March 28, Cyient shares saw a 2 percent increase following the company’s announcement of a partnership with a German original equipment manufacturer (OEM).
According to an exchange filing, Cyient has entered into a strategic partnership with Deutsche Aircraft, a German OEM based in Weßling, near Munich. The collaboration will focus on the detailed design for manufacturing (DFM) of the rear fuselage section for the 40-seater D328eco regional turboprop aircraft.
Karthikeyan Natarajan, Executive Director and CEO of Cyient, expressed enthusiasm about the collaboration, emphasizing Cyient’s commitment to delivering innovative engineering solutions in the aerospace sector.
Natarajan highlighted Cyient’s expertise in aircraft design and development lifecycle, underscoring its pivotal role in the development of the D328eco aircraft. He expressed optimism about driving advancements in aviation technology and contributing to the success of the transformative project.
In other recent developments, Cyient’s joint venture with Infotech HAL Limited, Bangalore, initiated a corporate insolvency resolution process before the National Company Law Tribunal, Bangalore Bench, on March 20.
Additionally, on March 13, Cyient signed a multiyear services agreement with Airbus for Cabin and Cargo Engineering. The company has been selected by Airbus for the development of a portion of its cabin ‘Intelligent Core Management Platform’ (iCMP), aimed at facilitating faster software updates, easy customization, and the proliferation of digital services in the Cabin.
Mahindra Life Spaces: Mahindra Lifespace stock up 4% post Bengaluru land purchase
The Mahindra Life Spaces real estate giant acquired 2 acre land plot White Field Bengaluru East region, worth Rs. 225 crore. Already Last week bought 9.6 acre land worth of Rs.1700 cr, use of this land for Residential apartments buildings in Mid size family members. Revenue growth from this project is Rs.2500 Cr in the FY -2024-2025.
MAHINDRA LIFESPACE Market Price has broken Ascending channel in downside
In the early trading session on March 28, shares of Mahindra Lifespace Developers experienced a notable increase of over 4 percent. This surge followed the company’s announcement regarding the acquisition of a 2-acre plot of land located in Whitefield, an area situated in the eastern part of Bengaluru.
According to reports, this land parcel is estimated to have a developable potential of approximately 0.2 million square feet of saleable area, with a gross development value projected to be around Rs 225 crore. The development plan primarily focuses on the construction of mid-premium residential apartments.
One of the key factors contributing to the appeal of the chosen location is its favorable connectivity to various tech parks and commercial offices. Additionally, Whitefield boasts a robust social infrastructure, including renowned educational institutes, healthcare facilities, and a plethora of retail options.
Commenting on the strategic move, Amit Kumar Sinha, the Managing Director of Mahindra Lifespace Developers, expressed confidence in the city’s market potential and emphasized its significance for the company’s growth trajectory.
This recent land acquisition in Bengaluru adds to the company’s existing portfolio, which includes a 9.4-acre land parcel in the eastern IT corridor of Bengaluru. The land in Whitefield is anticipated to offer a development potential of 1.2 million square feet of mid-premium apartments, with a gross development value estimated at Rs 1,700 crore.
Furthermore, the management of Mahindra Lifespace Developers has projected a revenue guidance of Rs 2,500 crore for its residential business by the fiscal year 2025. The company intends to concentrate its efforts on key markets such as Mumbai, Pune, and Bengaluru, while also maintaining a presence in the National Capital Region (NCR).
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