Biocon Biologics nets a $150 million investment from Goldman Sachs to further its development and marketing of biosimilars.
Biosimilar company Biocon Biologics said it will receive a $150 million investment from Goldman Sachs.
Biocon said in a statement that it regarded the capital infusion as a sign of confidence from the global investment community in the potential of the Bangalore, India-based company.
“This capital injection by Goldman Sachs will enable us to make prudent investments in [research and development], high-quality manufacturing, as well as establish a global commercial footprint,” said Christiane Hamacher, PhD, CEO of Biocon Biologics.
Biocon markets 2 biosimilars in the US: a trastuzumab (Ogivri) and a pegfilgrastim (Fulphila), both in partnership with Mylan. The companies have also launched an insulin glargine (Semglee), which references Lantus.
The product is essentially a biosimilar, but was not approved as one owing to the regulatory pathway followed. Biocon and Mylan are seeking biosimilar and interchangeable status for Semglee. Interchangeable status would mean pharmacists could dispense it without physician involvement.