On 8 August 2024, Biocon Limited reported year on year consolidated revenue growth of 30% for Q2 2024, primarily as a result of a “one-time gain” from the strategic collaboration between Biocon and Eris Lifesciences announced in March 2024. Although revenue for Biocon’s generics business decreased for the quarter, its biosimilars business delivered year-on-year growth of 11% compared with the same quarter last year.
Biosimilars highlights for the quarter are reported to include FDA-approval of Yesafili® (aflibercept) as the first interchangeable biosimilar to Regeneron’s Eylea® to be approved in the US (in May 2024, at the same time as Samsung Bioepis’ Opuviz® (aflibercept)), significant growth in US market share for Ogivri® (biosimilar trastuzumab, launched in December 2019) and Fulphila® (biosimilar pegfilgrastim, US approval in June 2018), EMA approval to manufacture biosimilar bevacizumab in Bengalaru (June 2024), a new non-exclusive agreement with a US pharmacy benefit manager for Hulio® (biosimilar adalimumab) and the addition of unbranded adalimumab to Costco’s member subscription program, and securing tenders in emerging markets and for Abevmy® (biosimilar bevacizumab) and Ogivri® (trastuzumab) in the UK.
In May 2024, Biocon reported that the US FDA had accepted for review Biocon’s BLA for Bmab 1200, biosimilar to Janssen’s Stelara® (ustekinumab).