Under the agreement, Sandoz will distribute the Biocon Biologics' brands, OGIVRI (bTrastuzumab) and ABEVMY (bBevacizumab)
Biocon Biologics partners with Sandoz Australia for biosimilars Trastuzumab and Bevacizumab. (Credit: Pamri/Wikimedia Commons)
Biocon Biologics Ltd (BBL), a fully integrated biosimilars company and subsidiary of Biocon Ltd (BSE code: 532523, NSE: BIOCON), announced a five-year partnership with Sandoz AG (‘Sandoz’) which provides Sandoz the exclusive rights to promote, sell and distribute biosimilar Trastuzumab (market value of AUD$35 million) and biosimilar Bevacizumab (market value of AUD$45 million) in Australia.
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 – 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.”
Source: Company Press Release