Biocon expands footprint to Chinese pharmaceuticals market with generic formulations
Bengaluru (Karnataka) [India], Sep 13 (ANI): Biopharmaceutical major Biocon has signed a license and supply agreement with a subsidiary of China Medical System (CMS) Holdings Ltd for three generic formulation products in Greater China.
ANI
Sep 13, 2019 10:58 IST
Bengaluru (Karnataka) [India], Sep 13 (ANI): Biopharmaceutical major Biocon has signed a license and supply agreement with a subsidiary of China Medical System (CMS) Holdings Ltd for three generic formulation products in Greater China.
The development is in line with Biocon's long-term generic formulations strategy and expands its footprint to the Chinese pharmaceuticals market, which is the second largest pharmaceutical market in the world.
Under the terms of the agreement, Biocon will be responsible for the development, manufacturing and supply of the products. CMS will be responsible for registration and commercialisation of the products in China.
The total addressable market size for these three products in Mainland China is about 800 million dollars, as per recent IQVIA data. The initial term of the agreement will be for 10 years from the date of commercialisation, extendable by two years on a product basis by mutual consent. This collaboration can be extended to a broader portfolio in future.
"This collaboration will allow us to take our US approved generic formulations to patients in China, allowing us an early entry in the world's second largest and rapidly-growing generics market," said Biocon's CEO and Joint Managing Director Arun Chandavarkar.
Biocon has started multiple programmes to build a robust pipeline of technology-intensive molecules for global markets. It has commercialised a few products under its own label in the United States.
(ANI)
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