Biocon Biologics has inked an out-licensing pact with Japanese pharma major Yoshindo to sell two of its pipeline biosimilars in Japan.
The deal gives Yoshindo exclusive rights to sell Ustekinumab and Denosumab – developed and made by the Biocon Ltd arm – in Japan for an addressable market opportunity of about $700 million. Biocon Biologics will get an upfront license fee and additional payments on the achievement of certain milestones over the next few years.
They did not disclose the deal’s financial terms.
Biosimilars are copycat versions of biotech drugs. Ustekinumab is a biosimilar referencing Stelara that is used in treating several autoimmune conditions such as psoriasis, Crohn’s disease and ulcerative colitis.
Denosumab, a biosimilar referencing Prolia, is used to treat osteoporosis, which causes bones to become weak and brittle.
“Once approved, these products will expand our offering of affordable, high-quality biosimilars in the Japanese market and help address unmet patient needs in bone health and immunology therapy areas,” said Shreehas Tambe, the deputy chief executive officer of Biocon Biologics.
Yoshindo's understanding of biosimilars and experience in the Japanese market were key
factors in scoring a deal with Biocon, explained Tambe.
The two products are currently undergoing clinical development and it will take a couple of years before the launch, according to Biocon’s communications head Seema Ahuja.
Biocon Biologics is in the process of developing a total of 20 biosimilar assets, either independently or through strategic partnerships, to be sold globally.
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