Zydus Partners with Formycon for Biosimilar Supply

New Delhi, Dec 9 (PTI) Zydus Lifesciences on Tuesday said its UAE-based unit has inked a licensing pact with Formycon AG for the supply of a cancer treatment biosimilar in the US and Canada.

Zydus Lifesciences Global FZE has entered into a strategic partnership for the exclusive licensing and supply of checkpoint inhibitor FYB206, a biosimilar of Keytruda (Pembrolizumab).

Under the terms of this agreement, Formycon AG will develop, register, manufacture and supply the product, while Zydus Lifesciences Global FZE will be responsible for the commercialisation of FYB206 in the defined territories, the Ahmedabad-based drug maker said in a statement.

"This venture marks Zydus' entry into the North American biosimilar market, debuting with an immunotherapy product. This collaboration also complements Zydus' recent proposed acquisition of Agenus Inc.'s California, USA-based manufacturing facilities, which we plan to integrate and leverage for manufacturing in the future," Zydus Lifesciences Managing Director Sharvil P Patel said.

By combining expertise and resources, the companies aim to drive significant organisational growth and deliver maximum value to patients through expanded access to affordable oncology care, he added.

Shares of Zydus ended 0.48 per cent down at Rs 919.90 apiece on the BSE.