Global pharma major, Lupin Limited (Lupin) announced today that it has entered into an exclusive licensing agreement with I'rom Group Co. Ltd (I'rom), a leading pharmaceutical company in Japan. Under the terms of the Agreement, I'rom will conduct clinical trials along with Lupin, register, distribute and market biosimilar Denosumab in Japan on an exclusive basis. Denosumab is indicated for the treatment of postmenopausal women with osteoporosis at high risk of fracture and prevention of skeletal-related events in patients with bone metastases from solid tumors among other indications.
Following the completion of the clinical trial and receipt of marketing authorization from PMDA in Japan, I'rom will exclusively commercialize the product in Japan. As part of the agreement, Lupin will receive multiple milestone payments. Currently, Denosumab is available under two brands, Pralia™ and Ranmark™, with a market size of approximately USD 500 million in Japan.
"We are pleased to partner with I'rom in Japan to bring this important biosimilar to the market. Biosimilars are a key growth driver for Lupin, and through products such as this, we are making significant progress in improving access and affordability of important treatments for patients," said Nilesh Gupta, Managing Director, Lupin.
"In post-menopausal women, osteoporosis is often caused by estrogen decline and is a common condition associated with advancing age. It can result in severe clinical consequences, such as back pain and bone fractures particularly in the spine and hips," said Dr. Cyrus Karkaria, President - Biotechnology, Lupin. "In progressing our development program for denosumab biosimilar, we hope to provide patients with early and expanded access to advanced biologic medicines, which has the potential to change their course of illness."
Shares of Lupin Limited was last trading in BSE at Rs. 695.40 as compared to the previous close of Rs. 682.50. The total number of shares traded during the day was 30101 in over 2110 trades.
The stock hit an intraday high of Rs. 699.15 and intraday low of 676.80. The net turnover during the day was Rs. 20835467.00.