Indian pharma major Lupin Limited said it has entered into a strategic partnership with Amman Pharmaceuticals Industries (Amman Pharma) to exclusively market and commercialize Ranibizumab biosimilar.
The drug is a biosimilar of Lucentis, in the Middle East and select territories, including Jordan, Saudi Arabia, UAE, Iraq, Lebanon, and other GCC countries. The collaboration aims to expand patient access to innovative healthcare solutions in the MENA region.
Ranibizumab which is a medication used to manage and treat neovascular age-related macular degeneration (AMD) and macular edema. It is administered through injection directly into the eye and works by inhibiting the growth of abnormal blood vessels in the eye, reducing leakage and preventing further damage to the retina.
"Our aim is to lead the charge in transforming patients' lives and fostering a healthier, brighter future for all in the MENA region," said Nilesh Gupta, the Managing Director of Lupin in a press statement.
Dr. Cyrus Karkaria, President of Biotechnology at Lupin, highlighted the commitment to providing widespread access to advanced biologic medications at affordable costs.
"This collaboration resonates with our commitment to providing top-quality products and access to advanced biosimilars to patients in the region. It further bolsters our biosimilar portfolio and solidifies our position in the specialized Ophthalmology market," said Dr. Fadi Alatrash, General Manager of Amman Pharma.
Lupin had earlier reported stellar Q2 results. The company reported a 3.77 fold year-on-year rise in consolidated net profit at Rs 489.6 crore for the July-September quarter of the current financial year. North America sales for the quarter were Rs 18,66.6 crore, up 40.4 percent compared to the same quarter previous year and accounted for 38 percent of Lupin’s global sales.
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