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Biocon an important strategic partner, says Mylan
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
Mylan president Rajiv Malik said Biocon was an important strategic partner and that the company would look to expand the portfolio of the partnership, after the US Food and Drug Administration approved Mylan’s cancer treating biosimilar Fulphila co-developed with Biocon. Malik said both the companies have already expanded the partnership recently to add two more products. “Its …
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Mylan president Rajiv Malik said Biocon was an important strategic partner and that the company would look to expand the portfolio of the partnership, after the US Food and Drug Administration approved Mylan’s cancer treating biosimilar Fulphila co-developed with Biocon.
Malik said both the companies have already expanded the partnership recently to add two more products.
“Its huge moment for Mylan-Biocon partnership, because it validates our commitment to affordability and accessibility. Very excited to get another first in US market after the approval for our biosimilar Herceptin,” Malik said.
However, he clarified that there are no talks of buying any stake in Bengaluru-based Biocon.
Watch Here: No talks of buying any stake in Biocon, says Mylan after USFDA nod to cancer drug Neulasta
Edited Excerpt:
Q: What is the size of the market you are expecting to garner in 2018 and 2019 and when is the launch?
A: Thank you for the wishes. It is huge moment for Mylan-Biocon partnership because it validates our commitment to affordability and accessibility. We are very excited to get another first in US market after the approval of our biosimilar Herceptin. We are looking forward to bring this product to the market and launch is in following few weeks.
As far as the size is concerned, it is going to be different as compared to the commodity generics where you can convert the market in a matter of couple of weeks, you can get 50-60 percent conversion. It is going to be a slow ramp but we are optimistic of our ability to garner a decent market share and bring affordability and accessibility to this important oncology product to the patients.
Q: You do have litigation which is ongoing for two process patents when it comes to Pegfilgrastim – what can we expect on that? Would this probably be an at-risk launch?
A: Amgen has asserted two process patents in Federal Court in Pittsburg but Mylan is confident on its non-infringement and invalidity defence against these patents. So we will be confidently looking to bring this product to the market at the earliest.
Q: Affordability apart what is the size you are looking at in this calendar 2018-2019 and the launch?
A: The launch will be in coming few weeks. We just got the approval yesterday and we are in the process of preparing the launch quantities and bring the product to the market. It will be hard to give the market share at this moment because it is going to be little different.
Q: Estimates say that you will make around $100-150 million in terms of joint revenue between you and Biocon from the drug in first year based on the fact that it is a limited competition?
A: Yes, it is not too far from where our estimates will be.
Q: You have long-standing relationship with Biocon for multiple biosimilars and this is the second approval that you have received in the US and you have tie-ups in other countries. Is there a chance that you could look to extend your relationship with Biocon? There have been rumours saying maybe you would even look to buy some stake in Biocon?
A: It has been a great partnership with Kiran Mazumdar Shaw and team, Biocon and the team. It has been almost 9 years of working together on this very hard to market product. We recently, expanded this partnership to add two more products to the basket of co-operation.
Biocon is an important strategic partner and I don’t at the moment want to comment on anything about a stake because there is no truth in the news that we are looking to buy stake in Biocon.
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