Last Updated on March 31, 2021 by The Health Master
This partnership, which marks the entry of Biocon’s generic formulations into Latin America, builds upon a successful association with Libbs, which began in 2017 to launch biosimilar Trastuzumab in Brazil.
It reflects Biocon’s commitment to make affordable healthcare accessible for patients the world over, by establishing a strong global presence for its formulations portfolio, either directly or through strategic partnerships, said Biocon in a press release.
As part of the out-licensing deal with Libbs, Biocon Pharma would be responsible for drug development and manufacturing, while Libbs would leverage its deep expertise and reach in Brazil to import, distribute and market, subject to approvals from the Brazilian health regulatory agency, ANVISA, said the company.
“Expanding our association with Libbs Farmaceutica, a trusted partner, to our generic formulations, will help us establish a firm footing in Latin America, starting with Brazil. We remain committed to expanding our global presence with high-quality and affordable medicines and invest in strengthening capabilities that enable us to serve patients globally,” Siddharth Mittal, chief executive officer and managing director, Biocon, was quoted saying.
Alcebíades de Mendonça Athayde Junior, Executive President, Libbs, said the company started its journey with Biocon years ago and Trastuzumab became a leader in the private market.
“We will now continue making a difference in people’s lives with Biocon, with the goal to expand access to quality, safe and effective treatments to our patients,” he said.