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Biocon plans foray into oncology
BS Corporate Bureau in New Delhi |
November 17, 2004 11:28 IST
Biocon on Tuesday announced its plans to enter the oncology space with the launch of a new proprietary molecule Theracim by the end of the next calendar year.
The company has also lined up launches of four more drugs, all of which would be anti-cancer drugs, over the next two to three years.
Speaking at the launch of the company's latest insulin, Insugen, Biocon chairman and managing director Kiran Mazumdar-Shaw said: "This new molecule is developed as an anti-EGF receptor antibody for solid tumor and it will be made available in the infusion (through injection) format."
Biocon has also planning to export Insugen to the Indian sub-continent, including Bangladesh, Sri Lanka and South East Asian countries.
"This will be done in a phased manner. Though we will addressing the Rs 220 crore (Rs 2.2 billion) Indian insulin market, the global market of $5 billion is also very lucrative," she said.
The company has already filed the Drug Master File of the Insugen with the USFDA. "This will be the first DMF for an Indian insulin to be filed in the US," Shaw said. In all, Biocon is looking at 20 countries where Insugen will be exported.
The company had recently announced a tie-up with US-based Nobex Corporation to explore and develop oral insulin for diabetes treatment.
"Since injected insulin and oral insulin address different needs we do not see any conflict of these two products in the market," she informed. Work is also progressing towards developing devices like 'pens' for dispensing the insulin.
Biocon is eyeing 15 per cent to 20 per cent of the Indian insulin market over the next two to two and half years. The market is growing at 15 per cent annually. An estimated 30 million diabetics are there in India of the 130 million diabetics worldwide. It is estimated that by 2025, there will be 57 million diabetics in India, making the country the diabetes capital of the world.