Mumbai: Biocon Ltd on 9 August announced it has entered into a licensing agreement with US-based Abraxis BioScience Inc for selling Abraxane in India, used in treatment of breast cancer.
“Abraxane adds tremendous value to our innovation led Oncotherapeutics marketing strategy,” Biocon Chairman and Managing Director Kiran Mazumdar-Shaw said in a statement to the Bombay Stock Exchange.
Abraxane for injectable suspension is indicated for the treatment of breast cancer. As it does not contain solvents, there is a reduced risk of certain hypersensitivity-related side effects and so additional medications, such as steroids and antihistamines, are not necessary.
“The company is committed to bringing new therapeutics for the benefit of patients both in India and other regions of the world through in-house and licensed products,” Mazumdar-Shaw added.
As per the agreement, the company would also have the right to market Abraxane in Pakistan, Bangladesh, Sri Lanka, United Arab Emirates, Saudi Arabia, Kuwait and certain other Persian Gulf countries, the domestic healthcare major informed.
Under this agreement, Abraxis would receive royalties from Biocon based on net sales of Abraxane in these countries.
Mazumdar-Shaw further said, “Our partnership with Abraxis on multiple fronts is enabling us to realize this objective in an effective and expedious manner.”
In July 2007, Abraxis applied in the Ministry of Health and Family Welfare in New Delhi to market Abraxane.