Biocon Biologics announced a five-year partnership with Sandoz AG which provides Sandoz the exclusive rights to promote, sell and distribute biosimilar Trastuzumab (market value of AUD $35 million) and biosimilar Bevacizumab (market value of AUD $45 million) in Australia.
Under the agreement, Sandoz will distribute the Biocon Biologics’ brands, OGIVRI (bTrastuzumab) and ABEVMY (bBevacizumab), and facilitate the sustained access of these medications that were previously distributed by another pharmaceutical company to patients in Australia. Trastuzumab is a biosimilar of Herceptin and Bevacizumab is a biosimilar of Avastin3 – both biosimilars are available on the PBS and utilised for the treatment of various cancers.
The agreement is effective from January 1, 2024 and commercialisation commenced on February 1, 2024.