Biocon Pharma climbs post collaborating with Libbs Farmaceutica for introducing generic formulations
The wholly-owned subsidiary of Biocon Ltd namely, Biocon Pharma Limited has collaborated with the leading Brazilian pharmaceutical company, Libbs Farmaceutica to launch generic drugs in Brazil.
This partnership marks the entry of Biocon’s generic formulations into Latin America and enhances successful association with Libbs, which started in 2017 to launch biosimilar Trastuzumab in Brazil. This portrays Biocon's efforts to make affordable healthcare available for patients across the globe, by establishing a strong global presence for its formulation's portfolio, either directly or through strategic partnerships.
As a part of the deal, Biocon Pharma will be responsible for drug development and manufacturing. On the other hand, Libbs will take advantage of its in-depth expertise and reach in Brazil as well as for import, distribution & marketing of the drug, after obtaining required approvals from Brazilian health regulatory agency, ANVISA.
Biocon Limited is a biopharmaceutical company. The company aims to reduce therapy costs of chronic diseases like autoimmune, diabetes, and cancer. The company has a pipeline of biosimilars and novel biologics, which are at various stages of development, including Insulin Tregopil, an oral insulin analogue.
On Tuesday, the share of Biocon Limited was trading at Rs 401.95, which is 1.70 per cent up on BSE.