Biotechnology major Biocon today said it along with Mylan has agreed to accelerate introduction of adalimumab biosimilar in Europe through Mylan's in-licensing arrangement with Fujifilm Kyowa Kirin Biologics.
Adalimumab biosimilar is indicated for patients suffering from various autoimmune diseases.
"Mylan and Biocon have agreed to accelerate introduction of adalimumab biosimilar in Europe through Mylan's in-licensing arrangement with Fujifilm Kyowa Kirin Biologics (FKB)," Biocon spokesperson said in a statement.
FKB's product is at an advanced stage of review and could potentially obtain approval in Europe in the second half of 2018, it added.
"We believe that through this arrangement, Mylan could commercialise FKB's Adalimumab in EU around market formation. Biocon retains its economic interest in this arrangement vis-a-vis Mylan in line with its existing global collaboration with Mylan for monoclonal antibodies," the spokesperson said.
Shares of Biocon today closed at Rs 613.15 per scrip on BSE, down 0.77 per cent from the previous close.
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