Shares of Biocon surged 7.79 per cent to ₹386.55 on the BSE at 12:08 pm after the company announced that its biosimilar Ustekinumab had received regulatory approval in Japan.

According to its exchange filing, this approval follows a successful partnership with Yoshindo Inc., which will be responsible for the commercialisation and marketing of the biosimilar in the Japanese market. Ustekinumab is a monoclonal antibody indicated for the treatment of Psoriasis Vulgaris and Psoriatic Arthritis (PsA).

“We are delighted to receive approval for our Ustekinumab biosimilar in Japan,” said the company spokesperson at Biocon Biologics. “This approval underscores our commitment to providing high-quality and affordable therapies to patients in Japan. We are confident that our partnership with Yoshindo Inc. will ensure successful market access and patient reach.