Biocon Biologics Expands Agreement with Fujifilm, Securing Exclusive Global Rights to Adalimumab Biosimilar Hulio

Expansion of Biocon Biologics Agreement

Biocon Biologics has successfully expanded its in-licensing agreement with Fujifilm Kyowa Kirin Biologics (FKB) to secure full and exclusive global rights to its adalimumab biosimilar, Hulio. This strategic shift provides Biocon end-to-end control over the manufacturing, development, and commercialization processes, moving beyond their previous role limited to solely managing commercial rights.

End-to-End Control over Production

• Commercial production of Hulio will start at Biocon's facilities after obtaining necessary regulatory approvals.
• FKB will continue to play a role in product development while offsetting some of the associated costs.
• Biocon will compensate FKB with a technology licensing fee and sales royalties for a designated period.

Strategic Rationale Behind the Deal

Shreehas Tambe, CEO of Biocon Biologics, noted that this expanded agreement enhances manufacturing rights and allows for increased flexibility and cost efficiency. This aligns with Biocon's mission of expanding access to high-quality biologics for patients suffering from inflammatory diseases worldwide.

Background and Market Impact

Biocon Biologics first attained the global commercial rights to adalimumab biosimilar in 2022, as part of its acquisition of Viatris' global biosimilars business. Previously, FKB managed the manufacturing obligations while Biocon handled commercialization.

Located in Bengaluru, Biocon Biologics has commercialized 10 biosimilars, serving over 6.3 million patients in more than 120 countries. Currently, it has a diverse pipeline of over 20 biosimilar assets targeting various therapy areas like immunology, oncology, and diabetes.

In stock market activity, Biocon Biologics’ share price increased by 1.04% on Tuesday morning and has shown a growth of over 2% in the last month, reflecting positive investor sentiment.