Biocon Secures 10-Year Pertuzumab Supply Contract in Brazil
Biocon Limited secured a 10-year supply contract for Pertuzumab in Brazil via a partnership with Bahiafarma and Bionovis. The consortium received 100% allocation under Brazil's PDP program, granting exclusive access to 70% of the country's demand. Biocon will receive milestone payments and revenue share over 10 years.
The 10-year supply contract with exclusive access to a significant portion of Brazil's market for a key therapy like Pertuzumab is expected to have a substantial positive impact on Biocon's revenue and market presence.
The announcement details a significant long-term supply contract that expands access to a critical cancer therapy in Brazil, which is a positive development for the company and patients.
Biocon Limited has announced a significant 10-year supply contract for Pertuzumab in Brazil, a therapy for HER2-positive breast cancer. This agreement was made through a partnership with Bahiafarma and Bionovis under Brazil's Productive Development Partnership (PDP) program.
The consortium, including Biocon, Bahiafarma, and Bionovis, received 100% allocation for Pertuzumab within Brazil's 10-year PDP program. This grants them exclusive access to approximately 70% of the country's demand for Pertuzumab through Brazil's public healthcare market, supporting long-term adoption of Biocon's product within the public oncology network.
Under the agreement, Biocon will receive milestone payments and a share of revenues generated over the 10-year period. The PDP framework also includes provisions for phased localization of the product in Brazil in the mid to long term. Shreehas Tambe, CEO & Managing Director of Biocon, highlighted the partnership's role in expanding access to affordable medicines and addressing healthcare needs at scale. Ceuci Nunes, CEO of Bahiafarma, and Odnir Finotti, CEO of Bionovis, also emphasized the strategic importance of the project for public health, technological advancement, and the strengthening of Brazil's healthcare ecosystem. Pertuzumab is a critical monoclonal antibody for treating HER2-positive breast cancer, and its local manufacturing in Brazil under this program is expected to reduce significant expenditure for the country's Unified Health System (SUS).
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Biocon Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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