Bengaluru, India, March 29, 2021
Biocon Ltd (BSE code: 532523, NSE: BIOCON), an innovation-led global biopharmaceutical company, today announced a partnership between Biocon Pharma Limited, a wholly owned subsidiary of Biocon Limited, and Libbs Farmaceutica, a leading pharmaceuticals company in Brazil, to launch generic drugs in Brazil, the world’s sixth most populous country.
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. 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.
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.
Siddharth Mittal, Chief Executive Officer and Managing Director, Biocon Ltd, said, “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. We remain committed to expanding our global presence with high-quality and affordable medicines and invest in strengthening capabilities that enable us to serve patients globally.”
Abhijit Zutshi, Commercial Head, Global Generics, added, “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.”
Alcebíades de Mendonça Athayde Junior, Libbs Executive President, commented, “We are very happy with this partnership that is going to make a difference in our patients’ lives. 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.”
About Biocon Limited: Biocon Limited, publicly listed in 2004, (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets, as well as generic formulations in the US and Europe. It also has a pipeline of promising novel assets in immunotherapy under development.
Disclaimer: This press release may include statements of future expectations and other forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects upon Biocon and its subsidiaries/associates. These forward-looking statements involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from our expectations include, amongst other: general economic and business conditions in India and overseas, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian and global biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither Biocon, nor our Directors, or any of our subsidiaries/associates assume any obligation to update any forward-looking statement contained in this release.
About Libbs Farmaceutica: Libbs is a 100% national Brazilian pharmaceutical company, which has been in the market for more than 60 years and, with more than 2,800 employees currently. 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. Libbs was the first pharmaceutical industry to implement the National Drug Control System (traceability).
Recently, the company opened a Biotechnology unit responsible for the production of biological drugs indicated to treat cancer and autoimmune diseases, with single-use technology (production that uses bioreactors with disposable bags). As it understands that dealing with life goes beyond medicines, the company also carries out corporate social responsibility work with the support of educational, cultural and sports projects focusing on health, education and quality of life, always linked to overcoming limitations. Its purpose is to contribute for people to reach a full life and their aspiration is to be the most admired Brazilian pharmaceutical industry in the world.