Drug firm Ipca Laboratories has inked an agreement with US-based Oncobiologics Inc to develop and manufacture biosimilar products targeting various diseases, including cancer.
Under the first part of the agreement, Ipca will in-licence and commercialise biosimilar products for India and associated markets, Ipca Laboratories said in a filing to the BSE.
“These products will be developed by Oncobiologics to the US Food and Drug Administration (USFDA) and European Union regulatory standards for global commercialisation. Initial manufacturing will occur in the US by Oncobiologics and later by Ipca in India,” it added.
The biologics covered by the agreement are among the most popular therapies in the world for immunology and oncology disease indications, it said.
“The partnership is planning to launch its first product in 2017,” it added.
Under the second phase of partnership, Oncobiologics will replicate its Biologics R&D and manufacturing facility in India to create a world-class capability for Ipca for further biosimilar commercialisation.
“The Mumbai R&D facility will be designed for development and commercialisation of complex monoclonal antibodies. The manufacturing facility will be located in Vadodara and will utilise the latest single-use manufacturing platform,” the company said.
The R&D facility will be operational in 2015 and the manufacturing facility will be operational by 2016, it added.
IPCA Laboratories shares today closed at Rs 788.25 apiece on the BSE, up 0.10 per cent from its previous close.