Biocon grants marketing license for cancer drug in Pakistan
By Our Corporate Bureau | 18 Jan 2007
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Integrated biotechnology company Biocon today announced having granted an exclusive license to Pakistan's Ferozsons Laboratories Ltd for marketing BioMab EGFR, its biotech molecule for treatment of cancer, in Pakistan.
The company says that after the successful debut made by BioMab EGFR in the Indian market in the second half of 2006, the proprietary cancer drug has seen a growing demand in the region as a result of which the exclusive license for the drug has been granted to Ferozsons Laboratories.
"Biocon is pleased to partner with Ferozsons for BioMab EGFR for the Pakistan market; this heralds our efforts in extending the benefit of this best in class cancer drug in the SAARC region," Biocon CMD Kiran Mazumdar Shaw said in a statement.
The Pakistan oncology market is valued at nearly $70 million and monoclonal antibodies represent the fastest growing category of therapeutics with a compounded annual growth rate of 30 per cent. This is the market segment in which BioMab EGFR has entered.
BioMab EGFR is indicated for head and neck cancer and is being studied in global clinical trials for colorectal, lung cancer, glioma and pancreatic cancers.
The company says that after the successful debut made by BioMab EGFR in the Indian market in the second half of 2006, the proprietary cancer drug has seen a growing demand in the region as a result of which the exclusive license for the drug has been granted to Ferozsons Laboratories.
"Biocon is pleased to partner with Ferozsons for BioMab EGFR for the Pakistan market; this heralds our efforts in extending the benefit of this best in class cancer drug in the SAARC region," Biocon CMD Kiran Mazumdar Shaw said in a statement.
The Pakistan oncology market is valued at nearly $70 million and monoclonal antibodies represent the fastest growing category of therapeutics with a compounded annual growth rate of 30 per cent. This is the market segment in which BioMab EGFR has entered.
BioMab EGFR is indicated for head and neck cancer and is being studied in global clinical trials for colorectal, lung cancer, glioma and pancreatic cancers.
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