Biocon Ltd, a multinational biopharmaceutical corporation known for its invention, has announced a collaboration between Biocon Pharma Limited, a wholly owned subsidiary of Biocon Limited, and Libbs Farmaceutica, a Brazilian pharmaceuticals company, to launch generic drugs in Brazil, the world's sixth most populous region.
“The alliance, which marks the introduction of Biocon's generic formulations into Latin America, builds upon a fruitful relationship with Libbs, which started in 2017 to introduce biosimilar Trastuzumab in Brazil,” the firm said in a regulatory filing to exchanges. It exemplifies Biocon's contribution to making quality healthcare available to patients worldwide by creating a large global footprint for its formulations portfolio, either directly or by strategic partnerships.
Biocon Pharma will be in charge of drug production and manufacturing as part of the out-licensing agreement with Libbs, while Libbs will manufacture, supply, and sell the drugs, subject to approvals from the Brazilian health regulatory agency, ANVISA.
Biocon Ltd's Chief Executive Officer and Managing Director, Siddharth Mittal, said, “Extending our relationship with Libbs Farmaceutica, a valued collaborator, to our generic formulations would assist us in developing a deep foothold in Latin America, beginning with Brazil. We remain committed to extending our global reach with high-quality, low-cost medicines and to investing in technologies that will enable us to service patients globally.”
Abhijit Zutshi, Global Generics Commercial Head, added, “The alliance with Libbs enhances Biocon's capacity to incorporate its portfolio of diverse and distinct APIs into completed dosages. The resulting efficiency, safety, and cost advantages, along with supply reliability, provide us with a distinct competitive advantage when we reach new markets.”
Libbs Executive President Alcebades de Mendonça Athayde Junior said, “We are very delighted with this relationship, which would make a difference in the lives of our patients. We started with Biocon Biologics years ago and had a lot of success. Our Trastuzumab became the private market leader, which was a landmark moment for our business. We will now aim to make a difference in people's lives through Biocon, with the goal of providing our patients with more access to high-quality, healthy, and successful therapies.”