Biocon Biologics Ltd., a subsidiary of Biocon Ltd., has received approval from the U.S. FDA for Jobevne™, a biosimilar to Avastin®, used in the treatment of various cancers.
The approval marks a major step forward in the company’s oncology biosimilar strategy in the U.S., reinforcing its position as a leading player in the global biosimilars market and signaling potential growth opportunities for investors.
FDA Approval Boosts Biocon’s Oncology Presence in the U.S.
On April 9, 2025, Biocon Biologics announced that the U.S. Food and Drug Administration (FDA) has approved Jobevne™. This new biosimilar is designed to treat various types of cancer by inhibiting angiogenesis, the process through which tumors develop their own blood supply.
Jobevne™ is a recombinant humanized monoclonal antibody that acts as a VEGF (vascular endothelial growth factor) inhibitor, helping to cut off the blood supply to tumors and slow their growth.
This marks a significant addition to Biocon Biologics’ U.S. oncology portfolio, which already includes OGIVRI (biosimilar trastuzumab) and FULPHILA (biosimilar pegfilgrastim). The company is already marketing this molecule as ABEVMY in Europe and Canada since 2021.
Biocon Ltd Performance on April 9, 2025
| Detail | Value |
| Opening Price | ₹315.05 |
| Previous Close | ₹322.40 |
| Intraday High | ₹315.80 |
| Intraday Low | ₹303.85 |
| Closing Price | ₹305.20 (-5.33%) |
| Market Cap | ₹36,642 crore |
Despite the positive regulatory development, Biocon Ltd. shares declined by 5.33%, likely due to broader market sentiment or short-term profit booking.
Halal Status of Biocon Limited
Biocon operates in the biopharmaceutical and healthcare sector, which is considered halal under Shariah-compliant investing guidelines. For an Stocks to be considered Halal, it must pass all the Shariah screening criteria, which include:
| Criteria | Value | Status |
| Business Activity | Pharma Sector | ✅ PASS |
| Impermissible Income to Total Revenue | 2.14% | ✅ PASS |
| Interest-Bearing Debt to Total Assets | 29.03% | ✅ PASS |
| Illiquid Assets to Total Assets Ratio | 77.72% | ✅ PASS |
| Net Liquid Assets vs Market Capitalization | Compliant as per Shariah principles | ✅ PASS |
| Non-Compliant Investments to Total Assets | Less than 33% (Compliant) | ✅ PASS |
Shareholding Patterns of Biocon Limited
| Particulars | Dec 2024 | Sep 2024 | Jun 2024 |
| Promoter | 60.60% | 60.60% | 60.60% |
| FII | 5.70% | 6% | 6% |
| DII | 15.40% | 14% | 14.30% |
| Public | 18.10% | 18.70% | 18.90% |
| Others | 0.20% | 0% | 0% |
Though short-term returns have been volatile, Biocon remains a key halal pharma stock with a long-term vision in affordable biosimilars.
Conclusion
Biocon Biologics’ latest FDA approval strengthens its position in the global oncology market, offering investors, especially those seeking Halal and Shariah-compliant stocks, a potential long-term growth opportunity in the healthcare sector.
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Hasan is the founder of HalalFinance.co.in, created after personally struggling to find reliable answers about halal investing in stocks. With a finance background and a passion for helping the Muslim community, He now shares well-researched, transparent, and authentic content to empower Muslims on their path to halal wealth-building.
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