India, June 3 -- Shares of a leading pharmaceutical company rose nearly 2 percent in today's trading session after the firm announced it had secured regulatory approval for its new diabetes drug. The development marks a significant milestone in the company's efforts to expand its portfolio in the fast-growing diabetes care segment.

During Tuesday's trading session, the shares of Biocon Ltd reached an intraday high of Rs.340.00 per share, rising 1.8 percent slightly from the previous close of Rs.334.00 per share. The shares have retreated from the peak and are trading at Rs.335.35 apiece.

Drug Approval Biocon Limited, a global biopharmaceutical company based in Bengaluru, has announced that it received regulatory approval in India for i...