Jan 18: Bengaluru-based biopharmaceutical firm Biocon Ltd on Thursday announced a global partnership with Sandoz, a division of Swiss pharma major Novartis pharma and a global leader in biosimilars, to develop, manufacture and commercialize multiple biosimilars in immunology and oncology for patients worldwide.
According to Biocon, 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.
“Worldwide commercialization responsibilities will be divided and each company’s strengths will be leveraged within specific geographies. Sandoz will lead commercialization in North America and the EU while Biocon will lead commercialization in rest of the world,” the company added.
Commenting on the association, Arun Chandavarkar, CEO & Joint MD, Biocon, said, “Biocon has worked at the leading edge of science and has demonstrated its capabilities in developing high quality biosimilars. Our credibility has been further endorsed by the recent USFDA approval of our Biosimilar Trastuzumab, which is also the first in the US. Our collaboration with Sandoz will bolster our existing global biosimilars portfolio comprising biosimilar antibodies and insulin analogs and will enable us to address the next wave of global biosimilars opportunities.”
Biocon shares closed trading in red at Rs 539.60, down 2.07% from the previous closing of Rs 551, on BSE today.