New Delhi, April 11 -- Biocon's share price surged 5.5 percent in intra-day trade on Friday, April 11, after the company's subsidiary, Biocon Biologics, received approval from the US Food and Drug Administration (USFDA) for JOBEVNE, a biosimilar version of Bevacizumab for intravenous use. The development marks a key regulatory milestone for the company and reinforces investor confidence in Biocon's growing biosimilar portfolio.

The newly approved drug, JOBEVNE (bevacizumab-nwgd), is a biosimilar of the reference product Avastin (bevacizumab). It is a recombinant humanized monoclonal antibody designed to inhibit angiogenesis-the formation of new blood vessels-by blocking vascular endothelial growth factor (VEGF). This mechanism restricts ...