Biocon Chief Kiran Mazumdar Shaw says India is not an outsourced services country anymore, it is an innovation and knowledge partner.
Biocon is among the companies that gave a good performance in 2016 and the stock surged 80 percent this year. Speaking to CNBC-TV18, Kiran Mazumdar Shaw, CMD of the company, said the company has gained traction in many emerging markets with its biosimilars.
The European Medicines Agency (EMA) has accepted to review Mylan and Biocon‘s application for a biosimilar called Trastuzumab, used for certain breast and gastric cancers.
Factors to watch out for in Q1 would be margin, contract research business, R&D cost, pricing pressure in legacy API biz (especially statins), recovery in branded formulation (was flat in Q4 due to restructuring) and pick up in Middle East market (did well in Q4).
"Close on the heels of receiving approval for its Insulin Glargine from the Japanese regulator last year, its partner Fujifilm Pharma Co has launched the product in Japan today," Biocon said in a BSE filing.
These market filings have a market opportunity of USD 40 billion. In particular, Japan offers a market potential of USD 150 million for its insulin product Glargine, says Biocon's Chairman and Managing Director.
Biocon R&D team is working on the second phase of the development of oral insulin, and Kiran Mazumdar-Shaw, Chairman & MD, Biocon, hopes that it becomes an approved product in the next 2-3 years.
It believes that Biocon's (and its partner Mylan) four potential product filings each in the US and EU would add credibility to its pipeline and bring market recognition. Emerging market monetisation is under way, but the US and EU opportunities will take at least two years, according to report.
The company's insulin Glargine has been approved by Cofepris, the Mexican health authority, through its Mexican partner PiSA Farmaceutica (PiSA), Biocon said in a statement.
Kiran Mazumdar Shaw, CMD of the company sees it to be a huge opportunity in the diabetic market and expects the insulin analogue market to grow in double-digits.
The size of Glargine is expected to be around USD 3-4 billion globally.
Biocon shares rose 2 percent in morning trade on Thursday after the biotechnology company said it has enhanced its partnership with pharma major Mylan through a strategic collaboration for insulin products.