International Finance
Featured Healthcare

Biocon and Libbs Farmaceutica partners to launch generic drugs

Biocon-Libbs_IFM_Image
The partnership marks the entry of Biocon’s generic formulations into Latin America

Indian-based biopharmaceutical company, Biocon recently addressed the media and said its unit Biocon Pharma is to partner with Brazil-based Libbs Farmaceutica to launch generic drugs in the world’s sixth most populous country – Brazil.

This partnership marks the entry of the biotechnology major, Biocon’s generic formulation into Latin America. The deal comes as a sequel to the winning partnership with Libbs that started in 2017 to launch biosimilar Trastuzumab within the same country.

The out-licensing partnership with Libbs stresses that Biocon Pharma will be responsible for development and manufacturing while Libbs will leverage its power in expertise and reach in Brazil to import, distribute and market, subject to approvals from the National Health Surveillance Agency Brazil (ANVISA).

Siddharth Mittal, chief executive officer and managing director of Biocon addressed the media and 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.” He further added that to serve patients globally, the company remains committed to increase its international presence with high quality and affordable medicines and invest in strengthening capabilities.

Alcebades de Mendona Athayde Junior, the executive president of Libbs Farmaceutica had told the press that this partnership is about to make a huge impact in the lives of patients. He also talked about how the company began a partnership with Biocon Biologics years ago and were highly successful. They consider it a milestone of the company with Trastuzumab becoming a leader in the private market. Their aim is to now continue making difference in people’s lives with Biocon with the ultimate goal to expand access to standard quality in addition to safe and effective treatment to their patients.

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.