Biocon has entered into a long-term supply agreement to manufacture and commercialise Pertuzumab in Brazil. The Bengaluru-based drugmaker announced the partnership on Tuesday alongside two Brazilian partners, Bahiafarma and Bionovis.
The deal comes under Brazil’s Productive Development Partnership programme, a government scheme that grants exclusive access to the country’s public healthcare market in exchange for local manufacturing commitments. The consortium of Biocon, Bahiafarma and Bionovis has secured 100% allocation under the 10-year PDP for Pertuzumab, as per the filing.
Biocon Pertuzumab deal: 10-year Brazil contract and localisation plan
Pertuzumab is a monoclonal antibody used to treat HER2-positive breast cancer. It is not currently manufactured in Brazil. The drug is described in the companies’ joint statement as a significant expense for the country’s Unified Health System, known locally as SUS.
The PDP arrangement gives the consortium access to a market that accounts for roughly 70 per cent of Brazil’s total demand for the drug. Biocon will earn milestone payments over the life of the contract, along with a share of revenues generated through the programme. The agreement also outlines a phased localisation of production within Brazil over the medium to long term, as per the filing.
“Brazil is an important country for Biocon, and our journey here reflects the transformative potential of strong partnerships in building local capabilities and expanding access to high-quality, affordable medicines. This long-term supply contract for Pertuzumab marks a significant milestone in this journey, enabling us to reach more patients living with HER2-positive breast cancer and address an important healthcare need at scale. In partnership with Bahiafarma and Bionovis, we are bringing together science, innovation, manufacturing excellence and local expertise to create a more sustainable pathway for access to this important cancer therapy. Together, we are not only supporting better patient outcomes but also helping build a stronger, more resilient healthcare ecosystem in Brazil,” Shreehas Tambe, CEO & Managing Director, Biocon, said.
Bahiafarma and Bionovis: Biocon’s partners in Brazil Pertuzumab deal
Bahiafarma is a public pharmaceutical laboratory owned by the State of Bahia. It focuses on research, technology development and production of medicines for Brazil’s public health system. Bionovis is a private Brazilian biotechnology company that develops and manufactures complex biological medicines and biosimilars, with a focus on technology transfer and local manufacturing.
About Biocon
Biocon describes itself as a global biopharmaceutical company built around expanding access to affordable medicines. The Bengaluru-headquartered firm works across generics, biosimilars, research services and novel biologics, and says it operates in more than 120 countries through a network of manufacturing sites, research centres and offices worldwide. The company has been listed in the S&P Global Sustainability Yearbook for four consecutive years and is listed on both the BSE and NSE.
Biocon share price performance on September 8
Biocon’s share price has been up 0.38% as of market opening on September 8. The company’s share price has declined 8.1% in the past month. Over the last 1 year, Biocon’s share price has gained nearly 9%.