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Biocon Receives DCGI Nod to Market Abraxane (India)

This article was originally published in PharmAsia News

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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