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    • Biocon inks license,...

    Biocon inks license, supply pact with CMS for 3 generic formulations

    Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 13 Sept 2019 9:15 AM  |  Updated On 17 Aug 2021 6:33 AM

    Under the terms of the agreement, Biocon will be responsible for the development, manufacturing and supply of the products and China Medical System Holdings (CMS) will be responsible for registration and commercialisation of the products in China, Biocon said in a statement.


    New Delhi: Biotechnology major Biocon on Thursday said it has signed a license and supply pact with a subsidiary of China Medical System Holdings for three generic formulation products in Greater China.


    Under the terms of the agreement, Biocon will be responsible for the development, manufacturing and supply of the products and China Medical System Holdings (CMS) will be responsible for registration and commercialisation of the products in China, Biocon said in a statement.


    The initial term of the agreement shall be for 10 years from the date of commercialisation, extendable by two years on a product basis by mutual consent. This collaboration can be extended to a broader portfolio in future, it added.


    The development is in line with Biocon's long term generic formulations strategy and expands its generic formulations business footprint to the Chinese pharmaceuticals market, the statement said.


    "This collaboration will allow us to take our US approved generic formulations to patients in China, allowing us an early entry in the world's second-largest, and rapidly-growing generics market," Biocon CEO and Joint MD Arun Chandavarkar said.


    As per the recent IQVIA data, the total addressable market size for these three products in Mainland China is about USD 0.8 billion, the statement said.


    Read Also: We need measures to save jobs in the Automotive Sector: Biocon MD Kiran Mazumdar Shaw


    Biocon's generic formulations business is built on the back of the company's strong portfolio of complex and differentiated active pharmaceutical ingredients (APIs), it added.


    "Through forward integration into dosage forms, the company seeks to provide a safe, efficacious and continuous supply of high-quality affordable drugs to address patient needs in diverse markets," the statement said.


    Read Also: Biocon gets 4 observations, Complete Response Letter from USFDA for Insulin Glargine

    active pharmaceutical ingredientsArun ChandavarkarBioconbiocon ceobiocon license pactBiotechnologyChina Medical SystemChinese pharmaCMSgeneric drugsKiran Mazumdar ShawKiran Shawpharmapharma companypharma newspharma news india
    Source : PTI

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    Medical Dialogues Bureau
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      Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in. Check out more about our bureau/team here

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