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Biocon Gets USFDA Approval for Jobevne, Expands Oncology Portfolio

Synopsis:

Biocon Biologics has received USFDA approval for Jobevne, a bevacizumab biosimilar used in cancer treatment. With US sales of bevacizumab reaching $2 billion in 2023, this approval expands Biocon’s oncology portfolio amid a competitive biosimilar market.


Biocon Ltd.’s subsidiary, Biocon Biologics, has received approval from the United States Food and Drug Administration (USFDA) for its cancer therapy drug Jobevne. This new biosimilar of bevacizumab is approved for intravenous use in the treatment of multiple types of cancer. The approval adds another high-value asset to Biocon Biologics' oncology product line in the US, alongside Ogivri and Fulphila. Jobevne targets vascular endothelial growth factor (VEGF), cutting off blood supply to tumours by inhibiting angiogenesis—a clinically proven mechanism in cancer therapy.

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BIOCON LIMITED.

Trade

321.82.94 (0.92 %)

Updated - 30 April 2025
325.20day high
DAY HIGH
317.00day low
DAY LOW
2632538
VOLUME (BSE)

Key Takeaways

  1. Biocon Biologics secures USFDA approval for Jobevne (bevacizumab biosimilar)

  2. Jobevne becomes the seventh biosimilar from Biocon Biologics approved in the US

  3. Adds to existing oncology portfolio in the US, including Ogivri and Fulphila

  4. Bevacizumab biosimilars generated $2 billion in US sales in 2023

  5. Biocon also markets bevacizumab in Europe and Canada under the name Abevmy

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Oncology Portfolio Gains Momentum In The US

The USFDA nod for Jobevne strengthens Biocon Biologics' presence in the world’s largest pharmaceutical market. This milestone follows the company’s earlier launches of Ogivri (trastuzumab) and Fulphila (pegfilgrastim) in the oncology space. Jobevne’s approval allows Biocon Biologics to compete with major bevacizumab biosimilar producers in the US, such as Amgen, Amneal, Pfizer, and Celltrion. Given that US sales for bevacizumab alone touched nearly $2 billion last year, the entry of Jobevne positions the company favourably in a high-value, competitive market.

Biocon’s Oncology Biosimilars Approved In The US

Drug Name

Reference Product

Use Case

Year of Approval

Jobevne

Avastin

Cancer treatment

2024

Ogivri

Herceptin

Breast cancer

2017

Fulphila

Neulasta

Chemotherapy support

2018

Market Reaction And Share Performance

Despite the regulatory breakthrough, Biocon Ltd. share price ended Wednesday’s trading session lower at Rs.305.6, down 5.18%. So far in 2025, Biocon Ltd. share price has declined by 17.14%, reflecting broader market volatility and sectoral shifts. However, the latest approval is expected to lend long-term strength to Biocon Ltd. share price, as the oncology segment becomes a key revenue contributor in global markets.

With the USFDA approval of Jobevne, Biocon Biologics continues to enhance its oncology footprint in major global markets. The addition of this bevacizumab biosimilar reflects the company’s focus on expanding its pipeline of high-demand biologics. As oncology biosimilars gain traction, this regulatory success could help drive future revenue and reinforce Biocon Ltd. share price stability amid ongoing market movements.

Also read: Tata Motors’ JLR India Achieves Record Sales in FY25 at 6,183 Units

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