Biocon announced a partnership between Biocon Pharma, its wholly owned subsidiary and Libbs Farmaceutica, a leading pharmaceuticals company in Brazil.
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.
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.
Libbs is a 100% national Brazilian pharmaceutical company, which has been in the market for more than 60 years. The company invests 10% of its revenue in R&D and innovation and sells around 90 products in more than 200 forms of medicines, distributed in the following specialties: cardiovascular, gynecology, oncology, hematology, dermatology, respiratory, transplants and central nervous system.
The announcement was made on Monday, 29 March 2021. Shares of Biocon fell 1.13% to settle at Rs 395.25 on Friday, 26 March 2021.
Biocon is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases.
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