Biocon Biologics Ltd (BBL), a fully integrated biosimilars company and subsidiary of Biocon Ltd on Friday announced a five-year partnership with Sandoz AG (Sandoz) which provides Sandoz the exclusive rights to promote, sell and distribute biosimilar Trastuzumab and biosimilar Bevacizumab in Australia, the company announced through an exchange filing.
Under the agreement, Sandoz will distribute the Biocon Biologics’ brands, OGIVRI (bTrastuzumab) and ABEVMY (bBevacizumab), and facilitate the sustained access of these medications that were previously distributed by another pharmaceutical company to patients in Australia. Trastuzumab is a biosimilar of Herceptin and Bevacizumab is a biosimilar of Avastin 3 – both biosimilars are available on the PBS and utilised for the treatment of various cancers.
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. This relationship is also a crucial step for patients in Australia, ensuring continued access to high-quality, affordable biosimilar medicines used in oncology."
Biocon Biologics Ltd shares
The shares of Biocon Biologics Ltd on Friday at 9:35 am IST were at Rs 285, up by 0.11 per cent.
