Contract Details
Biocon Limited announced the signing of a partnership agreement with Bahiafarma and Bionovis for Pertuzumab in Brazil. The agreement is part of Brazil's Productive Development Partnership (PDP) program and has a duration of 10 years.
Market Allocation and Access
The consortium of Biocon, Bahiafarma and Bionovis received 100% allocation under Brazil's 10-year PDP program for Pertuzumab. This provides the consortium exclusive access to Brazil's public healthcare market, which accounts for approximately 70% of the country's demand for Pertuzumab.
Financial Terms
Biocon will receive milestone payments and a share of revenues generated from the Brazil PDP opportunity over the 10-year contract period. Specific financial amounts or percentages were not disclosed in the filing.
Localization Requirements
As part of the PDP framework, the product will undergo phased localization in Brazil in the mid to long term, indicating gradual transfer of manufacturing capabilities to Brazil.
Product Information
Pertuzumab is a monoclonal antibody used in the treatment of HER2-positive breast cancer. The product is currently not manufactured locally in Brazil and represents a significant expenditure for the country's Unified Health System (SUS).
Partner Information
Bahiafarma is a public pharmaceutical laboratory of the State of Bahia, Brazil, focused on pharmaceutical research, technological development, innovation and production for Brazil's SUS. Bionovis is a Brazilian biotechnology company focused on developing, manufacturing and commercializing complex biological medicines and biosimilars.
Management Commentary
Shreehas Tambe, CEO & Managing Director of Biocon, stated: "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."
Ceuci Nunes, CEO of Bahiafarma, commented: "We celebrate the conclusion of this stage with the certainty that we are advancing in a strategic project for public health."
Odnir Finotti, CEO of Bionovis, stated: "Through our partnerships with Biocon and Bahiafarma, we reinforce our commitment to the public policies of the Health Economic-Industrial Complex."
Additional Information
The press release will be available on the company's website at www.biocon.com. The document was signed by Rajesh U. Shanoy, Company Secretary and Compliance Officer of Biocon Limited.