Biocon licenses 3 generic drugs China Medical System Holdings

Biocon licenses 3 generic drugs to China Medical System Holdings

9:46 AM, 13th September 2019
Biocon logo

NEW DELHI, INDIA: Biotechnology major Biocon has signed a license and supply pact with a subsidiary of China Medical System Holdings for three generic formulation products in Greater China.

Under the terms of the agreement, Biocon will be responsible for the development, manufacturing and supply of the products and China Medical System Holdings (CMS) will be responsible for registration and commercialisation of the products in China, Biocon said in a statement.

The initial term of the agreement shall be for 10 years from the date of commercialisation, extendable by two years on a product basis by mutual consent. This collaboration can be extended to a broader portfolio in future, it added.

The development is in line with Biocon's long term generic formulations strategy and expands its generic formulations business footprint to the Chinese pharmaceuticals market, the statement said.

"This collaboration will allow us to take our US approved generic formulations to patients in China, allowing us an early entry in the world's second largest, and rapidly-growing generics market," Biocon CEO and Joint MD Arun Chandavarkar said.

As per the recent IQVIA data, the total addressable market size for these three products in Mainland China is about USD 0.8 billion, the statement said.

Biocon's generic formulations business is built on the back of company's strong portfolio of complex and differentiated active pharmaceutical ingredients (APIs), it added.

"Through forward integration into dosage forms, the company seeks to provide a safe, efficacious and continuous supply of high-quality affordable drugs to address patient needs in diverse markets," the statement said.

Source: PTI



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

4 injured in gas tank explosion at HPCL plant in Unnao, India

UNNAO, INDIA: At least four people sustained injuries in a gas tanker explosion at the Unnao plant of the Hindustan Petroleum Corporation Limited (HPC ...

Read more
Wacker acquires 25% stake in UK battery materials specialist Nexeon

MUNICH, GERMANY/ABINGDON, UK: Wacker Chemie AG said that it is acquiring a 25 percent stake in the UK specialist for new battery materials, Nexeon Ltd ...

Read more
ONGC considers buying out rest of petrochemical project

DELHI, INDIA: ONGC plans to buy out the rest of a western Indian petrochemical project it does not already own and launch a public offering if it fail ...

Read more
Strides Pharma buys 70% stake in Swiss company

NEW DELHI: Strides Pharma Science said it has acquired 70% stake in Switzerland-based Fairmed Healthcare AG for CHF 2.2 million (over 15.50 crore). T ...

Read more
Berger Paints India announces cessation of director

KOLKATA, INDIA: Berger Paints India announced that Gopal Krishna Pillai has ceased as a non-executive, Independent Director of the Board with effect f ...

Read more
Covestro further expands digitalization processes

LEVERKUSEN, GERMANY: Covestro is already actively exploiting the benefits of digital transformation and consistently driving digital innovation. Impor ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X