Pharma major Biocon has said market value of the portfolio of drugs that are part of its collaboration with US-based Mylan is worth a whopping USD 33 billion (above Rs 1,75,000 crore).
Biocon is collaborating with Mylan in the area of research and development.
In a presentation to investors this month,Biocon projected that the market value of drugs’ portfolio being developed with Mylan was worth about USD 33 billion in 2011.
Both entities are focusing on biologics,generally referred to as drugs that can mimic the effects otherwise created by the body’s immune system.
Apart from development of “complex biosimilars”,the collaboration covers co-exclusive commercialisation rights and profit-sharing,among others.
Biosimilars are described as versions of an original biologics.
According to Biocon,the patents of many products whose biosimilars are to be developed by the two companies expires from 2015 onwards.
The two companies are planning to come out with biosimilars such as “Trastuzumab,Peg-filgrastim,Bevacizumab,Adalimumab and Eternacept”,which could be used in treating various ailments including cancer and psoriasis.
The collaboration combines “Biocon’s R&D and manufacturing prowess of biologics with Mylan’s regulatory & commercialisation capabilities in the US and Europe,” the presentation said.
In 2009,Biocon had entered into an exclusive agreement with Mylan for development and commercialisation of complex biosimilars.
Under the definitive agreement,both the firms had agreed to share capital and certain other costs to bring the products to market. Mylan also has exclusive commercialisation rights in the regulated markets with provision of profit sharing.
In March this year,Bangalore-headquartered Biocon and American pharma giant Pfizer had called off their USD 350 million global alliance to commercialise the former’s biosimilar versions of insulin and insulin analog products.
Shares of Biocon today closed at Rs 231.60 on the BSE,down 0.92 per cent from its previous close.