Biocon ties up with Libbs Farmaceutica to launch generic formulations in Brazil
Biotechnology major Biocon on Monday said its subsidiary Biocon Pharma Limited has joined hands with Libbs Farmaceutica, a leading pharmaceuticals company in Brazil, to launch generic drugs in the world’s sixth most populous country. The tie-up marks the entry of Biocon’s generic formulations into Latin America and the consolidation of a successful association with Libbs, which started in 2017 to launch biosimilar Trastuzumab in Brazil.
“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,” Biocon Ltd Chief Executive Officer and Managing Director Siddharth Mittal said.
The company remains committed to expanding its global presence with high-quality and affordable medicines and invest in strengthening capabilities that enable it to serve patients globally, he added. As part of the out-licensing deal with Libbs, Biocon Pharma will be responsible for drug development and manufacturing, while Libbs will leverage its deep expertise and reach in Brazil to import, distribute and market, subject to approvals from the Brazilian health regulatory agency, ANVISA.
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Libbs Executive President Alcebíades de Mendonça Athayde Junior said We started with Biocon Biologics years ago, and we were very successful: our Trastuzumab became a leader in the private market, a milestone for our company. 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.”
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, the company said in a statement.
Speaking about the advantages of the partnership, Abhijit Zutshi, Commercial Head, Global Generics said, “The partnership with Libbs further builds on Biocon’s ability to forward integrate its portfolio of complex and differentiated APIs into finished dosages. The resultant quality, safety and cost advantages, coupled with reliability of supply, give us a distinct competitive edge as we enter new markets.”