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Biocon gains 4% on global partnership with Sandoz for biosimilars in immunology, oncology

Sandoz will lead commercialisation in North America and the European Union, while Biocon will lead commercialisation in the rest of the world.

January 19, 2018 / 11:00 AM IST
 
 
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Biocon shares rallied nearly 4 percent intraday Friday after the company entered into a global partnership with Sandoz, a division of Swiss-pharmaceutical major Novartis.

Both companies will develop, manufacture and commercialise multiple biosimilars in immunology and oncology for patients across the globe.

Under the terms of the agreement, both companies will share responsibility for end-to-end development, manufacturing and global regulatory approvals for a number of products and will have a cost and profit share arrangement globally.

Sandoz will lead commercialisation in North America and the European Union, while Biocon will lead commercialisation in the rest of the world.

Biocon said its latest deal with Sandoz will not clash with its ongoing partnership with Mylan.

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Biocon has a successful ongoing tie-up with Mylan where Biocon will carry out development and manufacturing of biosimilars, while Mylan will take care of commercialisation in regulated markets.

An early mover in the biosimilars space, Biocon has successfully launched its insulin glargine in Japan, trastuzumab and bevacizumab biosimilars in India and rh-insulin, insulin glargine and biosimilar trastuzumab in a few emerging markets. It was the first Indian company to have a biosimilar approved by the US Food and Drug Administration.

Sandoz plans to launch five biosimilars targeting oncology and immunology by 2020. While Sandoz has US and Europe approval for Etanercept, used in treatment of autoimmune diseases, it's cancer biosimilar Rituximab was approved in Europe.

The company is also targeting Adalimumab, Inflixmimab both used to treat autoimmune disorders and pegfilgrastim in Europe and US markets.

At 10:46 hours IST, the stock price was quoting at Rs 558.00, up Rs 18.40, or 3.41 percent on the BSE.
first published: Jan 19, 2018 11:00 am

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