Beximco Pharma announces Commercial Agreement with Mylan in Bangladesh
Beximco Pharmaceuticals Limited, manufacturer of generic pharmaceutical products and active pharmaceutical ingredients, has announced the signing of a commercial agreement for distribution of certain products of Mylan in Bangladesh.
Under the terms of the agreement, Beximco Pharma will receive the exclusive rights to launch Mylan's portfolio of key monoclonal antibodies to treat different types of cancers, rheumatoid arthritis, Crohn's disease, ulcerative colitis and other medical conditions.
The first product to be launched, in Q1 2020, will be OgivriTM, a breast cancer drug which is biosimilar to the blockbuster drug Herceptin from Roche with global sales in excess of $7 billion in 2018. Ogivri is approved by the U.S. Food and Drug Administration and has also received marketing authorisation from the European Medicines Agency. Cancer is now one of the leading causes of death in Bangladesh and currently, there are more than 50,000 HER2-positive breast cancer patients in the country.
Mr Nazmul Hassan MP, Managing Director of Beximco Pharmaceuticals, commented:
"We are incredibly excited to announce this commercial agreement with Mylan, the first of its kind in Bangladesh. With one of the largest and most diverse portfolios of biosimilars approved in more than 80 countries, Mylan is the ideal partner for Beximco Pharma as we enter the key therapeutic areas covered by biosimilar products. This unique partnership, which combines world-class product development, marketing and regulatory expertise, will introduce a portfolio of biologics, in particular, target-specific high-value monoclonal antibodies, in Bangladesh. Together, we will be able to provide our patients with more affordable access to these much-needed products."
Commenting on the launch, Mr Rakesh Bamzai, President, India and Emerging Markets, Mylan said, "The growing incidence of breast cancer is a major public health concern among women in Developing Markets. As a global leader in the development of complex products, including biosimilar medicines, Mylan, through its commercial agreement with Beximco Pharmaceuticals, is pleased to make Trastuzumab accessible to patients in Bangladesh. Mylan and Beximco share a commitment to bring affordable and high-quality medicines to the market, especially in areas of unmet needs and by bringing this treatment option to Bangladesh, we hope to eliminate barriers to access by providing timely and affordable treatment options to patients with HER2-positive breast cancer. Mylan remains deeply committed to serving the community through the introduction of biosimilars and other critical products to meet the unmet needs of patients in the Developing Markets."
Beximco Pharma is a leading exporter of pharmaceuticals in Bangladesh. The Company currently has a global footprint in more than 50 countries and has been accredited by the leading global regulatory authorities including U.S. FDA, Malta Medicines Authority (EU), TGA (Australia), Health Canada, GCC (Gulf) and TFDA (Taiwan).