India's biotechnology major Biocon Ltd, is all set to make its way to Pakistan's pharmaceutical market by 2008 with its oncology drug BIOMAb EGFR.
Talking to Business Standard, Subir Basak, general manager of business development, Biocon Ltd, said, "We have decided to enter Pakistan and currently scouting for partners to enter the Pakisthan pharma market."
He further said, "The company is looking for global or local Pakistani pharma companies that have a large presence in the local market. We have been approached by a few Pakistani companies after the success of BIOMAb EGFR drug in India."
When asked to specify the name of the Pakistani firms or any global firms with whom the company has talked for its Pakistan marketing venture, he declined sighting reasons that it is premature to divulge the details at present.
However, he informed that the company has talked with at least 10 firms that have strong presence in Pakistan. The companies are a mixture of global firms and local Pakistani pharma companies.
"We are evaluating the matter and we are confident that the we will strike partnership deal for marketing BIOMAb EGFR in Pakistan within the year 2007," said Basak.
Speaking on the marketing of the drug, he said that Pakistan shares a similar lifestyle with India.
"In India the major types of cancer are that of head and neck due to the rampant presence of tobacco chewing habits," he said.
According to him, a lifestyle similar to India found in Pakistan with a large tobacco consuming population has lead to substantial number of cancer patient.
The total oncology market in India is worth Rs 500 crore (Rs 5 billion) per annum and Pakistan's oncology market consist of 25 per cent of Indian oncology market.
The company is sure that its new oncology drug will be adopted in Pakistan, as its cost is 40 per cent less than the present drug that is available in the market.
BIOMAb EGFR is the first of its kind that targets the human Epidermal Growth Factor Receptor (EGFR), a type of protein found on the surface of both normal and cancer cells.
At present only one company produces anti-EGFR that is Chimeric antibody made out of mouse cells. According to the company, its anti-EGFR drug is humanised drug using human cells.
Company has marketing rights in SAARC countries and has representatives in Bangladesh, Nepal and Sri Lanka. But the company has no presence in Pakistan and it will be its first entry into Pakistani territory.
