Biocon Biologics Inks Licence Pact for Stelara Biosimilar
By Rediff Money Desk, NEWDELHI Feb 29, 2024 20:28
Biocon Biologics has secured a licence to commercialize its biosimilar product to treat psoriasis, Crohn's disease, and ulcerative colitis in the US.
![Biocon Biologics Inks Licence Pact for Stelara Biosimilar](https://im.rediff.com/money/2023/nov/24biocon-biologics.jpg)
Photograph: Kind courtesy Biocon Biologics/Facebook
New Delhi, Feb 29 (PTI) Biocon Biologics on Thursday said it has inked a settlement and licence agreement with drug firm Janssen to commercialise its biosimilar product to treat various ailments like psoriasis, Crohn's disease and ulcerative colitis, in the US.
The company's product -- Bmab 1200 -- is a proposed biosimilar to the reference drug Stelara which had sales of USD 7 billion in the US last year.
The agreement licenses the company to launch in the US in February 2025, once approved by the US Food and Drug Administration(USFDA), Biocon Biologics said in a statement.
The company is a subsidiary of Biocon Ltd.
Biocon Biologics and Janssen have finalised the settlement agreement to dismiss the pending Inter Partes Review (IPR) before the Patent Trial and Appeal Board (PTAB) of the US Patent and Trademarks Office, the company said.
"We are pleased that this allows the company to be amongst the first launch group to offer a reliable, high quality biosimilar option to patients and healthcare providers in the United States with our bUstekinumab, Bmab 1200," Biocon Biologics CEO & MD Shreehas Tambe stated.
This development enables Biocon Biologics to build further on its existing immunology franchise in the US, he added.
Stelara (Ustekinumab) is a monoclonal antibody medication approved for the treatment of psoriasis, Crohn's disease, ulcerative colitis, plaque psoriasis and psoriatic arthritis.
The company's product -- Bmab 1200 -- is a proposed biosimilar to the reference drug Stelara which had sales of USD 7 billion in the US last year.
The agreement licenses the company to launch in the US in February 2025, once approved by the US Food and Drug Administration(USFDA), Biocon Biologics said in a statement.
The company is a subsidiary of Biocon Ltd.
Biocon Biologics and Janssen have finalised the settlement agreement to dismiss the pending Inter Partes Review (IPR) before the Patent Trial and Appeal Board (PTAB) of the US Patent and Trademarks Office, the company said.
"We are pleased that this allows the company to be amongst the first launch group to offer a reliable, high quality biosimilar option to patients and healthcare providers in the United States with our bUstekinumab, Bmab 1200," Biocon Biologics CEO & MD Shreehas Tambe stated.
This development enables Biocon Biologics to build further on its existing immunology franchise in the US, he added.
Stelara (Ustekinumab) is a monoclonal antibody medication approved for the treatment of psoriasis, Crohn's disease, ulcerative colitis, plaque psoriasis and psoriatic arthritis.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- IFL Enterprises
- 1.36 (+ 4.62)
- 139837616
- Franklin Industries
- 3.90 (+ 4.56)
- 41704768
- Vodafone Idea L
- 16.28 ( -3.04)
- 37101580
- Sawaca Business Mach
- 0.67 ( -4.29)
- 36642255
- Tata Teleservices (M
- 97.43 (+ 19.80)
- 21113173
MORE NEWS
![World's Largest...](https://im.rediff.com/80-80/money/2022/may/30coal3.jpg)
World's Largest Coal Mines: India's SECL Holds...
Two coal blocks in India's South Eastern Coalfields (SECL) rank among the world's 10...
![Infosys Q1 Profit...](https://im.rediff.com/80-80/money/2022/jun/01salil-parekh-1.jpg)
Infosys Q1 Profit Up 7.1%, Raises FY25 Outlook...
Infosys reported a 7% rise in Q1 net profit and raised its FY25 revenue growth guidance...
![Sensex Hits...](https://im.rediff.com/80-80/money/2023/dec/06dec-bse.jpg)
Sensex Hits 81,000, Nifty at 24,800: IT, FMCG...
Indian stock markets surge for the fourth straight day, with Sensex breaking 81,000 and...