(Bloomberg) -- Biocon Ltd. said it signed a deal to develop copycat versions of biologic drugs with a unit of Novartis AG, its latest move to become a global player in the next generation of generic medicines after a similar partnership with Mylan NV delivered a recent success.
The tie-up with Novartis’s generics unit Sandoz will focus on developing copies, or biosimilars, of biologic drugs in immunology and oncology, Bengaluru-based Biocon said in a statement Thursday. The two will share cost and profit globally, with Sandoz responsible for commercialization in North America and the European Union, and Biocon in the rest of the world.
Biologic drugs are produced from substances in living cells, making them challenging to copy. Biosimilars, which are often cheaper than their branded counterparts, are becoming an important part of the world’s medicine cabinets. Because developing and winning regulatory approval for biosimilars requires much higher investment in the developed world, Biocon’s strategy has been to offer its development and manufacturing expertise in collaboration with multinational drug makers.
“This synergistic partnership will enable us to scale up our capabilities for an end-to-end play in the global biosimilars space,” Kiran Mazumdar-Shaw, Biocon’s managing director said in the statement. “We remain committed to our mission of developing biopharmaceuticals that have the potential to benefit a billion patients across the globe.”
Another partnership to develop and market six biosimilars that Biocon signed with Mylan saw the pair win the first U.S. approval for a version of Roche Holding AG’s blockbuster breast cancer drug Herceptin in December.
©2018 Bloomberg L.P.
RECOMMENDED FOR YOU
POPULAR