MUMBAI: Biotech company Biocon on Friday said it has launched the drug Abraxane, used in the treatment of breast cancer.
Abraxane would be available in India as a single use 100 mg vial, Biocon said in a filing to the Bombay Stock Exchange.
Based on the clinical trial data the drug was approved by the Drug Controller General of India last year.
"With the launch of Abraxane and the growing need for this drug in the country, we look forward to attaining market leadership in this segment," Biocon President, Marketing, Rakesh Bamzai said.
Last year, Biocon had entered into a licensing agreement with US-based biotech firm Abraxis BioSciences for the commercialisation of Abraxane in India. The drug is approved for marketing in 35 countries.
"In addition to India, our marketing agreement with Biocon covers more than 10 countries and we are working closely with national authorities throughout the region to receive regulatory approval and commence marketing activities soon," Abraxis BioSciences CEO Patrick Soon-Shiong said.
Under the terms of agreement, Biocon has the right to market Abraxane in India, Pakistan, Sri Lanka and certain other Asian and Gulf countries.
Shares of Biocon closed at Rs 350.45, down 0.5 pc on the BSE.
