In a big positive for Biocon and a huge milestone for Indian pharma companies, the US Food and Drug Administration (US FDA) has approved cancer drug Trastuzumab used to treat breast and metastatic stomach cancer.
In an interview to CNBC-TV18, Kiran Mazumdar Shaw, CMD of Biocon said Trastuzumab approval is a huge milestone. Trastuzumab has been under development for seven years.
She further said that the global market size of Trastuzumab is USD 6 billion.
Mazumdar Shaw mentioned that WHO has included Trastuzumab in its essential medicines list.
We expect Biocon's share of profit to be significant and also expect a large contribution from biosimilars going ahead, said Mazumdar Shaw.
She expects a few more companies to eventually launch drug similar to Trastuzumab.
According to her, market for biosimilars in next five years is not expected to get overcrowded.Watch accompanying video for more details.