Biocon inks deal with US-based Abraxis

Biocon, a Bangalore-based biotech major, and Abraxis BioScience, a US-based bio-pharmaceutical company, have announced a licensing agreement for the commercialisation of Abraxane in India.

Abraxis had submitted an application to market Abraxane, which is used for the treatment of breast cancer, to the ministry of health and family welfare last month.

As per the terms of the agreement, Biocon will also have the right to market Abraxane in Pakistan, Bangladesh, Sri Lanka, United Arab Emirates, Saudi Arabia, Kuwait and certain other Persian Gulf countries.

Abraxis, as part of this agreement, will receive royalties from Biocon based on net sales in these countries.