Biocon grants exclusive marketing license for BIOMAb EGFR for Pakistan

Biocon Ltd on January 18, 2007 has announced that it has granted an exclusive license to Ferozsons Laboratories Ltd for marketing BIOMAb EGFR in Pakistan. The successful debut made by BIOMAb EGFR in the Indian market since mid-September, 2006, has evinced strong licensing interest for the proprietary cancer drug in the region. The Company’s decision to select Ferozsons Laboratories Ltd as its exclusive licensee in Pakistan was based on the leadership position that the Company enjoys in Oncology. IMS data ranks Ferozsons as the No:1 national Oncology Company in Pakistan.

The Pakistan oncology market is valued at approximately $70 Million. Monoclonal Antibodies represent the fastest growing category of therapeutics with a CAGR of 30%.

BIOMAb EGFR is indicated for Head and Neck cancer and is being studied in global clinical trials for Colorectal, Lung Cancer, Glioma and Pancreatic cancers. There are more than 25,000 new cases of Head & Neck cancer reported per year in Pakistan, according to Globocan, which mirrors the incidence of this segment in India.

Dr. Kiran Mazumdar-Shaw, Chairman & Managing Director of the Company said that "Biocon is pleased to partner with Ferozsons for BIOMAb EGFR for the Pakistan market and heralds our efforts in extending the benefit of this "best in class cancer drug" in the SAARC region. We believe that together we will strive to bring new treatment paradigms in cancer care in both Pakistan and India in an affordable way."

Source : Equity Bulls

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