Bangalore: Bangalore-based biotechnology company Biocon Ltd is planning to take its recently launched breast cancer drug to other emerging markets.
CANMAb, jointly developed with US-based drug-maker Mylan Inc, will be launched in Latin America, West Asia and North Africa, where breast cancer cases are on the rise.
“We have to get regulatory approvals, but are keen to get into those markets,” Chairman and Managing Director Kiran Mazumdar-Shaw said.
Biocon’s confidence stems from the fact that CANMAb is 25 per cent cheaper than and equally effective with Swiss drug-maker Roche’s breast cancer drug. Further, the company is confident that it can close 2014 ‘strongly’, and continues to see a healthy order book for its drugs. The company reported a net profit of ₹105 crore for the third quarter, an increase of 14 per cent over the corresponding period last year, driven by sales of drugs such as Basalog and Insupen.
Additionally, it posted Rs 701.16 crore in consolidated net sales for the quarter, 11 per cent higher than the year-ago sales. Also, Biocon has entered into an exclusive licensing agreement for co-development and commercialisation of ADXS-HPV, a novel cancer immunotherapy for cervical cancer in women, for India and other emerging markets.
The company’s licensing income was down to ₹15 crore in the quarter compared with Rs 23 crore last year and R&D expenses were down 53 per cent to Rs 20 crore.
Mazumdar-Shaw said regulations for clinical trials, especially the ones conducted for vaccines, are “ridiculous and impractical” and people with no understanding of clinical trials are making such recommendations.
Recordings of large trials as mandated by authorities involving 10,000 patients and more are extremely difficult, she said.
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