Hyderabad : Drug firm Aurobindo Pharma has forayed into the biosimilar development space by acquiring four cell culture derived products from Switzerland-based TL Biopharmaceutical AG.
As part of the agreement, TL will supply all the developmental data for four molecules and Aurobindo and/or its affiliates will develop, commercialise and market these products globally.
“This acquisition is in line with our strategy of investing in complex products and is an important first step towards establishing Aurobindo’s global biosimilars portfolio,” Aurobindo Pharma Managing Director N Govindarajan said in a regulatory filing.
The company did not share financial details about the acquisition. It, however, termed the market size of the four biosimilars “very promising”.
“Regulatory filing for these products is intended in the period 2020-22,” it added.
“This transaction is a strategic investment for future growth and will position Aurobindo as a strong player in the rapidly evolving biosimilars landscape,” the Hyderabad-based firm said.
Building on these first four products licensed from TL, Aurobindo is expanding its diverse portfolio of eight more next wave of biosimilars ensuring a strong and diverse products pipeline, it added.
Aurobindo has set up a fully functional R&D centre for biologics development and is also establishing a manufacturing facility in Hyderabad which is expected to be ready by second quarter of FY18.