This product is indicated for use in the treatment of Philadelphia chromosome positive chronic myeloid leukemia in adults. It is also used to treat Philadelphia chromosome positive acute lymphoblastic leukemia in adults with resistance or intolerance to prior therapy.

"The approval will further strengthen Biocon’s portfolio of vertically integrated, complex drug products” the company said in a statement.

Biocon is an innovation led global biopharmaceuticals company, engaged in the production of therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as Generic Formulations in the US, Europe & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development.

The company’s consolidated net profit surged 167.8% to Rs 125.6 crore in Q2 FY24 as compared with Rs 46.9 crore in Q2 FY23. Revenue from operations jumped 49.26% to Rs 3,462.3 crore in Q2 FY24 as compared with Rs 2,319.7 crore posted in corresponding quarter last year.

The scrip fell 1.31% to currently trade at Rs 294.85 on the BSE.