Shares of Biocon gained 1 percent in the early trade on December 26 after the company's subsidiary signed a distribution agreement with Sandoz for an immunity-linked injection in Japan.
At 9:32am, Biocon was quoting Rs 250.40, up Rs 4.20, or 1.71 percent, on the BSE.
Biocon Biologics signed a distribution agreement with Sandoz, granting the company the exclusive rights to promote, sell and distribute Adalimumab BS for subcutaneous injection [FKB], the company said in its release.
Based on this agreement, Viatris has completed marketing and promotion of the product as of December 15, 2023, but will continue to provide transition support until Sandoz gradually assumes responsibilities for the product starting February 15, 2024, it added.
Biocon Biologics has acquired the global biosimilars portfolio of Viatris including Adalimumab.
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Fujifilm Kyowa Kirin Biologics Co Ltd, the developer of the drug, has concluded an exclusive global marketing license agreement with Biocon Biologics Ltd affiliate.
Adalimumab BS for subcutaneous injection [FKB] is a biosimilar of Humira - the generic name is adalimumab (genetical recombination) - and is indicated for immune-related diseases such as rheumatoid arthritis, psoriasis vulgaris, ankylosing spondylitis, Crohn's disease, and ulcerative colitis.
Biocon Biologics recently announced the successful completion of its integration of the acquired Viatris’ biosimilars business in 120 countries.
At a global level, Biocon Biologics has a robust pipeline of 20 assets for diabetology, oncology, immunology, and ophthalmology.
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