Biocon grants license for cancer drug in Pakistan

Biocon said on Thursday it has granted an exclusive license to Ferozsons Laboratories Ltd for marketing its biotech molecule for treatment of cancer BIOMAb EGFR in Pakistan.

The company informed the Bombay Stock Exchange that after successful debut made by BIOMAb EGFR in the Indian market in the latter half of 2006, the proprietary cancer drug has evinced demand in the region and as a result of which the exclusive license for the drug has been granted to Ferozsons Laboratories.

"Biocon is pleased to partner with Ferozsons for BIOMAb EGFR for the Pakistan market and heralds

our efforts in extending the benefit of this best in class cancer drug in the South Asian Association for Regional Cooperation region," Biocon CMD Kiran Mazumdar Shaw said in a statement.

The Pakistan oncology market is valued at nearly $70 million and the monoclonal antibodies represent the fastest growing category of therapeutics with a compounded annual growth rate of 30 per cent, in which BIOMAb EGFR has entered.

BIOMAb EGFR is indicated for head and neck cancer and is being studied in global clinical trials for colorectal, lung cancer, glioma and pancreatic cancers.