Intas launches chemotherapy drug at affordable price
Ahmedabad-based Intas Pharmaceuticals has launched the cancer drug Bevacizumab at prices 60 per cent less than the currently available options.
On Wednesday, the company announced that its Bevacizumab therapy would cost Rs 39,995 for the dose strength of 400 mg variant, which makes it 60 per cent less than the currently available options.
It would bring relief to a large number of cancer patients in India for whom the drug was out of reach until now. The drug was available in India since 2004. However, the cost of therapy was high.
It is estimated that every year over 700,000 patients die due to various types of cancer in India.
Bevacizumab slows down the growth of new blood vessels and is used in treating multiple cancers like colorectal, ovarian, cervical, lung and recurrent glioblastoma (a type of brain tumour).
Intas Pharma has been growing at a 27 per cent compounded annual growth rate (CAGR) over the last five years. Ranked No 10 in the domestic market, the company is one of the top five in the Indian chronic therapy category.
The firm's revenue is in excess of $1.25 billion. It has a domestic market share of 2.8 per cent, while in the chronic segment, the share is much higher at around 5.3 per cent. It had started with the chronic segments like neurology and psychiatry. Eventually, it forayed into Oncology and operates in niche sub-segments like injectables in Oncology for example.
Intas is backed by PE firms Temasek and Chrys Capital. Earlier, this year Capital International picked up ChrysCapital LLC’s partial stake in Intas for $106 million (about Rs 690 crore).