A video circulating on X, formerly Twitter, shows two Biocon Biologics boards being smeared with black paint in protest against the company’s executive chairperson, Kiran Mazumdar-Shaw’s stance on the new Karnataka reservation bill. The bill mandates reservation for local Kannadigas in managerial and non-managerial roles in corporates, a move that has sparked controversy. Shaw expressed concerns about the bill impacting Karnataka’s position as a tech hub by potentially hindering the recruitment of skilled talent.
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Indian pharmaceutical company Biocon is looking for a Chinese partner to conduct clinical trials for generic versions of Novo Nordisk’s blockbuster diabetes drug Ozempic and weight loss treatment Wegovy. The move comes ahead of the patent expiration on semaglutide, a key ingredient in both drugs, in China in 2026.
Several prominent companies, including Vodafone Idea, Biocon, Piramal Enterprises, Zee Entertainment Enterprises, and Atul, have witnessed fluctuations in their share prices due to evolving market sentiments.