Bangalore-based Biocon Biologics Ltd (BBL) announced a new partnership with Sandoz AG to promote, sell and distribute two of its cancer biosimilars - Trastuzumab and Bevacizumab - in Australia. The 5-year exclusive agreement provides Sandoz the rights to market these medications under BBL's brands OGIVRI and ABEVMY.
Trastuzumab biosimilar OGIVRI is a cheaper version of Roche's breast cancer drug Herceptin, while Bevacizumab biosimilar ABEVMY mirrors Roche's Avastin that treats several tumor types. Both biosimilars were previously distributed in Australia by another pharmaceutical firm before this deal.
A biosimilar is a biologic medical product that is almost an identical copy of an original product that is manufactured by a different company and are designed to have properties and effects highly similar to an already FDA-approved biologic, known as the "reference product." Biologics are complex medications derived from living organisms and are used to treat diseases like cancer or autoimmune disorders.
Unlike generic drugs made from simple chemical compounds, biosimilars are much more structurally complex and made using living cells, making an exact replica impossible.
Biocon Biologics said the agreement with Sandoz enables continued patient access to these vital cancer medicines by leveraging Sandoz's reach and capabilities in the Australian pharmaceutical market.
“This relationship is also a crucial step for patients in Australia, ensuring continued access to high-quality, affordable biosimilar medicines used in oncology,” the company said.
As per estimates, Trastuzumab and Bevacizumab have a combined market value of AUD 80 million in Australia. By securing distribution through Sandoz, BBL aims to drive higher utilization of its biosimilars and expand patient access to these essential treatments.
The deal also expands the global Biocon-Sandoz partnership established last December for the Japanese market. For Sandoz, it bolsters their biosimilars portfolio for oncology while advancing patient access.
The commercialization of OGIVRI and ABEVMY by Sandoz in Australia has already commenced on 1st February 2024 after regulatory approvals. The expanded availability of these economical biosimilars is a promising development for cancer patients in Australia as costs have been a major barrier to treatment access over the years.
BBL now has 8 commercialized biosimilars across several advanced & emerging economies. According to BBL’s executives, this deal aligns with their mission of transforming healthcare through high-quality biosimilars with expanded reach.