Biocon out-licenses two biosimilars for Japanese market

India’s largest biotech firm Biocon (BSE: 532523) has entered into a strategic out-licensing agreement with Japanese drugmaker Yoshindo for the commercializing of two of its pipeline biosimilar assets, bUstekinumab and bDenosumab, in the Japanese market.

Under the terms of this deal, Yoshindo gets exclusive commercialization rights in Japan for bUstekinumab and bDenosumab developed and manufactured by the biotech’s Biocon Biologics, for an addressable market opportunity of ~$700 million#. Biocon Biologics will receive an undisclosed upfront license fee as well as additional payments on the achievement of certain development milestones over the next few years. The financial terms of the agreement are not being disclosed.

Biosimilars of Prolia and Stelara