Ranbaxy Laboratories advances on launching first Biosimilar of Infliximab Drug in India

Ranbaxy Laboratories is currently trading at Rs. 631.65, up by 19.25 points or 3.14% from its previous closing of Rs. 612.40 on the BSE. The scrip opened at Rs. 620.00 and has touched a high and low of Rs. 637.85 and Rs. 620.00 respectively. So far 154046 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 697.50 on 10-Nov-2014 and a 52 week low of Rs. 306.05 on 27-Jan-2014. Last one week high and low of the scrip stood at Rs. 631.00 and Rs. 607.25 respectively. The current market cap of the company is Rs. 26866.97 crore. The promoters holding in the company stood at 63.37 % while Institutions and Non-Institutions held 21.49 % and 13.73 % respectively. Ranbaxy Laboratories, one of the India’s largest pharmaceutical company, has launched Infimab, the first 'Remicade (Infliximab) biosimilar in India. The product was launched at the Indian Rheumatology Association Conference (IRACON) in Chandigarh, in the presence of over a thousand rheumatologists and doctors from around the country. Infimab is being introduced in the Indian market through a licensing partnership with EPRIRUS Biopharmaceuticals, Inc., a US and Swiss-based Biopharmaceutical company focused on the global development and commercialization of biosimilar monoclonal antibodies. Infimab will be manufactured by Reliance Life Sciences at a facility in Mumbai. The innovator reference product is currently marketed for the treatment of inflammatory diseases including rheumatoid arthritis, Crohn's Disease, ankylosing spondylitis, ulcerative colitis, psoriatic arthritis and psoriasis. Infimab marks Ranbaxy's entry into mAb (Monoclonal Antibodies) biologics, and will help the company provide greater access to quality biologic medicines in management of conditions like rheumatoid arthritis. Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.