Biocon teams up with Sandoz for next gen Biosimilars
Biocon and Sandoz, the generic drug division of Novartis have formed a partnership to develop, manufacture and sell affordable copies of biologic drugs in immunology and oncology globally.
The companies will jointly develop and make the drugs known as biosimilars and obtain regulatory approvals for them globally, apart from sharing costs and earnings, Biocon said in a statement on Thursday.
Biosimilars are identical copies of highly complex biologic drugs that are said to have the same efficacy.
Biologic drugs are made through biotechnology, derived from natural sources or produced synthetically. The companies will split up global sales, with North America and the European Union going to Sandoz and Biocon looking after the rest of the world. "I think both Sandoz and Biocon have good shared values and synergetic capabilities," Kiran Mazumdar-Shaw, MD of Biocon, told ET. She said Biocon will continue its partnership with Mylan and they will explore opportunities together for other product.