Biocon shares gained on Wednesday after Bristol-Myers Squibb and Syngene International, a Biocon's arm, announced a five year extension of their drug discovery and development collaboration in India.

The US-India collaboration has produced six drug candidates for further study and also helped Bristol-Mysers Squibb reduce the time and costs associated with advancing new compounds to first-in-human studies.

Shares of the company are trading at Rs 453.90, up Rs 11.75, or 2.66% at the Bombay Stock Exchange (BSE) on Wednesday at 11:58 a.m.

The scrip has touched an intra-day high of Rs 457.50 and low of Rs 444.00. The total volume of shares traded at the BSE is 74,898.

In the earlier session, the shares declined 0.89%, or Rs 3.95, at Rs 442.15.

Currently, the stock is trading down 11.63% from its 52-week high of Rs 513.65 and above 71.64% over the 52-week low of Rs 264.45.