New Delhi, Dec. 3 -- After a not-so-good September quarter, Biocon Ltd now has reason to rejoice. The pharmaceutical major has received approvals for some critical drug launches in the US, breathing life into the stock, with investors banking on biologics which is being seen as a catalyst. The scrip, which trended lower over the past two years, has been heading north since September and gained 16% last month.

Much of the enthusiasm surrounds the expected ramp-up of Biocon's biologics business. The company, along with Mylan NV, with whom it has a tie-up, is expected to launch some critical biosimilars in the US. It is also expected to ramp up some existing products. Biocon has been investing in biosimilars which are close variants, bankin...