Biocon Pharma, Libbs Farmaceutica collaborate to launch generic formulations in Brazil
Bengaluru: Biocon Ltd has recently announced a partnership between Biocon Pharma Limited, a wholly-owned subsidiary of Biocon Limited, and Libbs Farmaceutica, a 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 an association with Libbs, which began in 2017 to launch biosimilar Trastuzumab in Brazil.
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."
