Biocon Ltd, Asia’s premier biopharmaceuticals company, today announced its consolidated financial results for the fiscal third quarter ended on December 31st, 2017.
Commenting on the highlights, Chairperson & Managing Director, Kiran Mazumdar-Shaw stated: “This has been a significant quarter for Biocon as we crossed a major milestone of obtaining USFDA approval for biosimilar Trastuzumab partnered with Mylan. Another highlight was the announcement of a new strategic partnership with Sandoz to develop, manufacture and commercialize a portfolio of next wave of biosimilars for global markets.
Our Branded Formulations and Research Services segments reported a healthy double-digit growth during this quarter. We expect growth in other segments to revive from early next fiscal.”
- Biocon becomes the first Company from India to get its biosimilar approved by the USFDA; OgivriTM, co-developed by Biocon and Mylan, is also the first biosimilar Trastuzumab to be approved in the US.
- Biocon collaborates with Sandoz for a global partnership to develop, manufacture and commercialize a number of next generation biosimilars to enhance patient access to complex bio-therapeutics in the area of immunology and oncology.
- Biocon also receives approval from ANVISA, the Brazilian regulatory agency, for biosimilar Trastuzumab, the first biosimilar Trastuzumab to be approved in Brazil.
- Biocon launches KRABEVA®, a biosimilar Bevacizumab in India, for the treatment of patients with metastatic colorectal cancer and other types of lung, kidney, cervical, ovarian and brain cancers.
- EMA accepts the resubmission of Marketing Authorization Applications for Biocon and Mylan’s proposed biosimilars of Trastuzumab and Pegfilgrastim.