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Biocad to Manufacture Biosimilars in Morocco
Russian biosimilar developer Biocad has announced that it will begin manufacturing its rituximab and bevacizumab biosimilars in Morocco. The 2 drugs, manufactured in partnership with Sothema Labs, will be sold in numerous markets in North Africa, including Morocco, Senegal, Gabon, and Cote d’Ivoire.
Russian biosimilar developer Biocad has announced that it will begin manufacturing its rituximab and bevacizumab biosimilars in Morocco. The 2 drugs, manufactured in partnership with Sothema Labs, will be sold in numerous markets in North Africa, including Morocco, Senegal, Gabon, and Cote d’Ivoire.
In a press release, Biocad indicated that its biosimilar products, priced at a 30% discount to their reference drugs, are expected to gain more than a 50% share of the market for these therapies. Biocad estimates that the North African market for anticancer monoclonal antibodies is worth $220 million in total.
“The efforts of our company combined with the eager enthusiasm of our Moroccan colleagues in transferring the production of biosimilars to North Africa has brought remarkable results,” said Dmitry Morozov, CEO of Biocad. “In the coming days, the drug products will go on sale. In my opinion, this is eloquent evidence that Russian companies can compete with leaders of the international market. Moreover, this is the first successful case of transferring technologies of the [monoclonal antibody] drug products manufacturing to North Africa amid the refusal of western companies to implement such projects.”
Biocad added that it has entered into an agreement to localize the manufacturing of finished dosage forms of its products in Algeria, though it did not release details of the Algerian partnership.
Biocad’s biosimilars have been making inroads into a number of global markets; in June, the company announced that it had obtained a marketing authorization for its rituximab product in Bolivia and Honduras, adding to its portfolio of markets that includes Kazakhstan, Vietnam, and Sri Lanka. The company has also sought a foothold in the European Union, and has invested heavily in projects in Finland’s Turku region as it seeks to develop its molecules for approval and commercialization in the European marketplace. The company plans to invest €25 million ($28 million) in Finland over the coming 7 years.
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