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Biocon Biologics, the biosimilar arm of Biocon, has received approval from the US FDA for Jobevne, a cancer treatment drug. This is the company’s seventh biosimilar approved in the US and its fourth oncology biosimilar. Jobevne is a biosimilar version of Bevacizumab (marketed as Avastin), a monoclonal antibody used in combination with chemotherapy to treat various types of cancer, including colorectal, lung, brain, kidney, and cervical cancers.
The approval of Jobevne expands Biocon Biologics’ oncology portfolio and adds to its existing portfolio, which includes OGIVRI (trastuzumab), FULPHILA (pegfilgrastim), and ABEVMY (another bevacizumab biosimilar approved in other markets). The US market is a significant contributor to Biocon Biologics’ revenue, accounting for 40% of its overall revenue.
The company has 20 biosimilars in its development pipeline, including insulins and monoclonal antibodies across various therapies. In addition to the US market, Biocon Biologics is seeing growth in markets like Japan and Australia through its commercial partners.
In the third quarter of 2024, the company’s biosimilars segment posted revenue of ₹2,289 crore, up 14% year-on-year on a like-for-like basis. Profits rose 5% sequentially. The oncology segment saw strong demand during the quarter, while insulin sales remained in the mid-to-high teens across all distribution channels.
The CEO and Managing Director of Biocon Biologics, Shreehas Tambe, expressed his enthusiasm for the approval of Jobevne and the company’s future plans to bring more treatment options to patients. The company is committed to working with stakeholders to develop and commercialize biosimilars that can provide affordable and high-quality treatment options to patients.