Mumbai-based Ipca Laboratories Ltd, which manufactures active pharmaceutical ingredients (APIs) and finished dosage forms, has entered into a partnership with US-based Oncobiologics Inc. to develop, manufacture and commercialise biosimilar monoclonal antibody products.
“This partnership is an important step towards introducing affordable, high-quality biotherapeutics to India. Ipca is thrilled to partner with Oncobiologics, which brings us excellent biologics development and manufacturing capability and a deep knowledge of the scientific and quality requirements in the United States,” said Premchand Godha, managing director of the company.
This partnership which will launch its first product in 2007 is a two-part agreement between the two companies, according to the stock exchange announcement made on Monday.
Under the first part of the agreement, Ipca will in-license and commercialise biosimilar products for India and associated markets. These products will be developed by Oncobiologics which will also initially manufacture these in the US followed by Ipca manufacturing them in India.
As per the second part of the agreement, Oncobiologics will replicate its biologics R&D and manufacturing facility in India for Ipca.
Ipca’s Mumbai R&D facility will be designed for development and commercialisation of complex monoclonal antibodies. The manufacturing will be done at a facility located in Vadodara. This R&D facility will operational by 2015. The financial details of this transaction have not been disclosed.
“Ipca is one of the leading companies in small-molecule pharmaceuticals in India, with a global footprint. Through this partnership we hope to introduce high quality products developed to stringent western regulatory standards at an affordable cost,” said Pankaj Mohan, founder and CEO of Oncobiologics.
Ipca is backed by private equity major ChrysCapital which invested $40 million last year in the company to acquire around 4 per cent stake. In November, last year the company acquired 50 per cent stake in Gujarat-based Avik Pharmaceuticals for Rs 6.5 crore.
(Edited by Joby Puthuparampil Johnson)