January 19, 2018 / 4:17 AM / 6 months ago

BUZZ-India's Biocon hits near 2-week high on tie-up with Sandoz

** Biocon Ltd rises as much as 3.9 pct at 560.35 rupees, its highest since Jan 8

** Biocon ties up with Sandoz to develop, manufacture and commercialize biosimilars in immunology and oncology for global markets

** Citi Research raises stock’s price target to 690 rupees from 525 rupees, maintains “buy” rating

** Multiple benefits for Biocon from deal including wider pipeline, greater front-end muscle in developed markets and potentially better acceptance with developing market regulators

** Up to Thursday’s close, stock up 63.2 pct this year

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