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Breast cancer caused an estimated 694,000 deaths globally in 2024 and was the most common cancer among women in 164 of 186 countries. Now, Biocon is expanding its presence in this market.
The pharma company’s shares jumped after it announced a 10-year deal with Bahiafarma and Brazilian biotechnology company Bionovis for Pertuzumab in Brazil.
Pertuzumab is an antibody used to treat HER2-positive breast cancer and is currently not manufactured locally in Brazil.
Bahiafarma is a public pharmaceutical laboratory in Brazil focused on research, innovation and the production and supply of medicines.
Let’s break it down: under the deal, Biocon, Bahiafarma and Bionovis will receive 100% allocation for Pertuzumab under Brazil’s 10-year Productive Development Partnership (PDP) programme.
The partnership is aimed at advancing the local production and commercialisation of the HER2-positive breast cancer therapy in Brazil.
Why Brazil matters: Brazil is Latin America’s largest healthcare market, spending around 9.7% of its GDP on healthcare, equivalent to roughly $135 billion.
Some numbers: Biocon’s consolidated operating revenue increased 10% YoY to ₹4,336 crore, driven by strong growth in its Biopharma business.
Biopharma revenue grew 17% YoY, while biosimilars revenue increased 16% to ₹2,855 crore.
