Biotechnology major Biocon announced that it has launched its cancer biosimilar drug KRABEVA, used for the treatment of metastatic colorectal cancer, in India.
A biosimilar is a biologic medical product which is almost an identical copy of an original product that is manufactured by a different company.
Biosimilars are officially approved versions of original “innovator” products, and can be manufactured when the original product’s patent expires.
This biosimilar product is also used to treat other types of lung, kidney, cervical, ovarian and brain cancers in India, Biocon said in a filing to the BSE.
Biocon CEO and Joint MD Arun Chandavarkar said: “With KRABEVA, we intend to provide a high quality, world-class biosimilar Bevacizumab as an affordable therapy option for patients of various types of cancer.”
The company believes that the product will be an important addition to its oncology portfolio of novel biologics as well as biosimilars, which are making a significant impact in the realm of cancer care in India, he added.
KRABEVA is the second key oncologic biosimilar product from Biocon’s global biosimilar portfolio to be launched in India to address the unmet patient need for affordable, biological therapies, the company said.
“It is being offered to patients at an MRP of Rs 24,000 for 100 mg/4 ml vials and Rs 39,990 for 400 mg/16 ml vials…,” it added.
Stock of Biocon was today trading at Rs 412.80 on the BSE, up 1.03 per cent from its previous close.