Biocon hits 52-week low as Pfizer scraps deal

Tags: Biocon, Companies
Shares of Biocon tumbled by over 6 per cent today, as a drug deal of the biotechnology firm with US-based pharmaceutical giant Pfizer was scrapped.

After plunging as much as 11 per cent to touch a 52-week low of Rs 238 in the intra-day trade on the BSE, Biocon shares recovered some of the losses and settled for the day 6.31 per cent down at Rs 250.80.

At the NSE also, the stock closed at Rs 250.85, down 6.24 per cent.

Earlier in the day, Biocon and Pfizer called off their $ 350 million global alliance to commercialise the Bangalore-based firm's biosimilar versions of insulin and insulin analog products.

"The companies have agreed that due to the individual priorities for their respective biosimilars businesses, it is in their best interest to move forward independently," the two firms said in a joint statement.

The fall in Biocon share price was in sharp contrast to an overall rally in the market, where the barometer index Sensex ended 225.95 points up at 17,813.62.


  • India can increase its GDP by letting women take as much part as men in the economy

    Women hold up half the sky. So said Mao Zedong. Now, McKinsey Global Institute (MGI) tells us that they can hold up more than half the sky.


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Amita Sharma

Rank disorder in higher education

Two Indian institutes count among the wo­rld’s top 200 in ...

Zehra Naqvi

Little known gems

Fame, as they say, is a fickle mistress. And all ...

Bubbles Sabharwal

Harmony is a work in progress

Things, events, feelings, people... nothing has value attached to it, ...


William D. Green

Chairman & CEO, Accenture