Biocon Sees Approvals Unlocking $1 Billion Biosimilar Business - (Bloomberg via NewsPoints Desk)

  • Biocon, which is the only Indian drugmaker to receive FDA approval for a biosimilar, believes it can amass $1 billion in biosimilar sales by 2025, Bloomberg reported.

  • Managing director Kiran Mazumdar-Shaw said that Biocon's other leading candidates are on track for clearance in the US and EU following regulatory problems.

  • Mazumdar-Shaw added that the drugmaker could sell a stake in its Syngene International unit to fund expansion of its biosimilar business.

  • Biocon expects approval of three more biosimilars in the US and EU this year, including biosimilars of Roche's Herceptin and Amgen's Neulasta, while the company currently markets one biosimilar in the US as part of a collaboration with Mylan.

  • The drugmaker is hoping to expand its portfolio with a new partnership with Mylan and a pact with Novartis.

  • "We have at least a five-year head start" in biosimilars versus other Indian drugmakers, Mazumdar-Shaw stated, continuing "now you're seeing the market opportunity."

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