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Biocon Receives DCGI Nod to Market Abraxane (India)

This article was originally published in PharmAsia News

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Executive Summary

Biotech company Biocon Ltd. has received approval from the Drug Controller General of India to market Abraxane, its breast cancer drug. Biocon recently concluded a licensing agreement with U.S.-based Abraxis BioScience Inc. for the commercialization of Abraxane in India. Biocon has completed the required formalities to divest its enzymes business vertical to Novozymes South Asia Pvt Ltd, a wholly-owned subsidiary of Denmark-based Novozymes for Rs453.79 crore. Biocon will use the post tax proceeds of this divestment to strategically focus on its core bio-pharmaceuticals business as well as consider key acquisition opportunities to move up the value chain. (Click here for more - May Require Free Registration
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This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

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