Biocon’s subsidiary, Biocon Biologics Ltd (BBL), a fully integrated biosimilar company, has announced a five-year partnership with Sandoz AG (Sandoz). The association aims to promote, sell, and distribute biosimilar Trastuzumab and biosimilar Bevacizumab in Australia.
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Under the agreement, Sandoz will distribute the Biocon Biologics’ brands, OGIVRI (bTrastuzumab) and ABEVMY (bBevacizumab), and facilitate sustained access of these medications that were previously distributed by another pharmaceutical company to patients in Australia.
As per the company’s statement, the agreement is effective from January 1, 2024, and commercialisation commenced on February 1, 2024.
Matt Erick, Chief Commercial Officer of Advanced Markets, Biocon Biologics Ltd, said: “Following the recent establishment of our strategic partnership with Sandoz in Japan, our agreement with Sandoz in Australia marks another important milestone of our global partnership and growth strategy.”
Biocon, in another exchange filing, disclosed that the USFDA has issued a complete response letter (CRL) for the license application for bBevacizumab. “The CRL did not identify any outstanding scientific issues on the dossier and informed the need for the completion of a pre-approval inspection of the bBevacizumab manufacturing facility,” it said.
Biocon stock traded at ₹285.50 on the NSE, up by 0.28 per cent as of 9.30 am.