Lupin signs pact to supply five biosimilars in Philippines

The pharma major announced that it has signed an exclusive license and supply agreement with DKSH to commercialize five of Alvotech's proposed biosimilars in the Philippines.

DKSH is a leading partner for healthcare companies seeking to grow their business in Asia and beyond.

The biosimilars planned under this agreement include are Prolia (denosumab), Xgeva (denosumab), Simponi (golimumab), and Eylea (aflibercept) as well as two undisclosed proposed biosimilars for immunology and oncology.

According to the agreement, Lupin's subsidiary in Philippines, Multicare Pharmaceuticals, will file for marketing approval and be responsible for distribution and commercialization of the biosimilars once approved.

These products are used to treat disorders relating to bone disease, oncology, immunology and ophthalmology. Lupin said that this agreement enhances Multicare's oncology, rheumatology, gastroenterology and ophthalmology, portfolio, which currently consists of three biosimilar candidates and over 50 generic medicines.

We are pleased to announce the addition of five new biosimilar candidates to our portfolio, which will provide patients in Philippines with effective, high-quality and affordable treatment options, said Gabriel Georgy, regional head of Southeast Asia at Lupin.

Peter Dolinsky, vice president own brands of Asia Pacific at DKSH added, We are delighted to partner with Lupin and bring these important therapeutic offerings to patients in the Philippines. This partnership is in line with our purpose of enriching people's lives, and we are proud to be working with a strong local partner to make this happen.

Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.

The drug maker reported a net loss of Rs 89.1 crore in Q1 FY23 as against a net profit of Rs 542.5 crore in Q1 FY22. Total revenue from operations declined 12.3% YoY to Rs 3,743.8 crore during the quarter.

Shares of Lupin rose 0.71% to Rs 657.55 on the BSE.

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