Biocon Limited has informed the Exchange regarding a press release dated May 05, 2025, titled "Biocon Biologics Secures Strong Market Access Coverage for Yesintek in the United States Covering 100+ Million Lives".
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Biocon Biologics, a subsidiary of Biocon Limited, has secured multiple formulary listings in the United States for Yesintek™ (ustekinumab-kfce), its biosimilar to Johnson & Johnson's Stelara®. Coverage agreements represent over 100 million lives, equivalent to 70-80% of the US commercial market. Key payors include Express Scripts (National Preferred Formulary from March 21, 2025), Cigna (from March 21, 2025), UnitedHealthcare (commercial from May 1, 2025, Medicaid from March 1, Medicare from June 1), CVS Health (from July 1, 2025), and Optum Rx (from July 1, 2025). Yesintek is also listed exclusively on several regional plans including Blue Cross Blue Shield of Michigan. The product was approved by the USFDA in December 2024 and treats Crohn's disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis.
This is a positive development for Biocon shareholders as it confirms strong commercial uptake of Yesintek in the lucrative US market, validating the company's biosimilar strategy and potentially driving revenue growth for Biocon Biologics. Broad payor coverage so soon after launch positions the product well against competitors in the ustekinumab biosimilar space.