Biocon other pharma stocks surge after FM Sitharaman proposes ₹10,000 crore for building biosimilars, biologics in Budget 2026

Shares of Biocon, Piramal Pharma, Sun Pharma, Torrent Pharma and Dr Reddy's Labs rose up to 2.5% after Finance Minister Nirmala Sitharaman, while presenting Budget for financial year 2026-27, announced an outlay of ₹10,000 crore over next five years for developing biologics and biosimilars.

NIFTY Pharma index advanced as much as 0.93% to hit an intraday high of 21,917.75 as many as 13 out of 20 shares in the index were trading higher.

Sitharaman proposed Biopharma Shakti, meaning biopharma strategy for health advancement through knowledge, technology, and innovation.

Sitharaman said, “India's disease burden is observed to be shifting towards non-communicable diseases, like diabetes, cancer and autoimmune disorders. Biologic medicines are key to longevity and quality of life at affordable costs. To develop India as a global biopharma manufacturing hub, I propose the Biopharma Shakti with an outlay of ₹10,000 crore over the next five years.”

“This will build the ecosystem for domestic production of biologics and biosimilars. The strategy will include a Biopharma-focused network with three new national institutes of pharmaceutical education and research and upgrading seven existing ones,” the Finance Minister said while presenting the Budget.

“We propose to strengthen the Central Drug Standard Control Organization to meet global standards and approval timeframes through a dedicated scientific review cadre and specialists,” Sitharaman added.

Following Sitharaman’s announcement for boosting biosimilar sector, shares of Biocon, the country’s leading biologics and biosimilar maker rose as much as 2.95% to hit an intraday high of ₹377.60 and shares of its research arm Syngene International advanced 2.2%. Piramal Pharma, Sun Pharma, Tirrent Pharma, Dr Reddy's Labs and Mankind Pharma shares also came under buying interest and rose between 1%-1.5%.

As of 11:22 am, NIFTY Pharma index traded 0.35% higher with thirteen out of 20 shares in the index trading higher.