- 11 Apr 2025
- ICICIdirect Research
BIOCON RECEIVES APPROVAL FOR JOBEVNE (BIOSOMILAR OF BEVACIZUMAB) FROM THE USFDA.
BIOCON - 322 Change: 3.55 (1.11 %)News: Biocon receives approval for Jobevne (Biosomilar of Bevacizumab) from the USFDA. It is a monoclonal antibody used to treat different types of cancer and is a biosimilar of the drug Avastin (bevacizumab). This marks another drug addition for Biocon in oncology portfolio in the US which includes Ogivri (Trastuzumab) and Fulphila (Pegfilgrastim). In the U.S., sales of bevacizumab were approximately $2.0 billion in 2023
View: The company had received CRL (non-acceptance of its application) for Bevacizumab in February 2023 from the USFDA mainly on account of issues pertaining to the Bengaluru facility. With Bengaluru being cleared recently, the approval was more or less on cards. Despite four players (including the innovator)already in the fray, this is still a decent opportunity for Biocon in the US. With a portfolio of seven biosimilars (launched + to be launched) in the US and an overall global count of +20, the biosimilars segment of Biocon is expected to perform better in the coming years.
Impact: Positive