The Bangalore-based biopharmaceutical firm Biocon and Mylan have jointly launched cancer drug Ogivri, a biosimilar to Herceptin, in the US.
This is the second launch in the US for Biocon after bNeulasta.
The market expects the latest to boost its topline.
Ogivri has the potential to provide $19/56/67 million revenue upside for Biocon in FY20/21/22E.
Trastuzumab biosimilar, co-developed by Biocon Biologics, a Biocon subsidiary, and Mylan, was unanimously recommended by the FDA Oncologic Drugs Advisory Committee.
Ogivri, available in a 420mg multi-dose vial and a 150mg single-dose vial, will be used for the treatment of all types of breast cancer and metastatic stomach cancer (gastric or gastroesophageal junction adenocarcinoma).
The US launch of Ogivri, the biosimilar trastuzumab marks a significant milestone in Bicon and Mylan’s biosimilars journey.
It is an important endorsement of their science, development and manufacturing capabilities in the area of monoclonal antibodies.
Biocon, and Mylan have sufficient capacity to manufacture and fulfill demand in the US and global markets for both products.
Biocon, Asia’s premier biopharmaceutical company, is driven by the vision to make a difference to global healthcare through improved access to high quality, life-saving biotherapeutics by making them affordable for patients across the world.
Biocon was among the early movers in the industry to pursue a high-risk strategy of developing biosimilars for global markets.
Mylan N.V. is a Dutch-domiciled generic and specialty pharmaceuticals company registered in the Netherlands.
What does this deal mean for Biocon going ahead?
We believe the Mylan deal has the potential to get ramped up significantly over the next 2 years as the opportunity size is estimated at $3 bn dollars worldwide
Hence one us likely to see a good improvement in operating metrics for Biocon over the next 18 months going ahead
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