&w=3840&q=100)
Biocon Biologics to launch Eylea biosimilar Yesafili in Canada next month
Shreehas Tambe, chief executive officer and managing director, Biocon Biologics, said: 'The approval of Yesafili by Health Canada—the first biosimilar to Eylea in Canada—is a proud moment for Biocon Biologics. We are excited that in July, Canada will be the first country where we will launch Yesafili, making it our 10th biosimilar to be commercialised worldwide. This milestone reflects our science-driven innovation, global commercialisation strength and continued commitment to expanding access to high-quality, affordable biologics for patients across the globe.'
Yesafili is a vascular endothelial growth factor (VEGF) inhibitor indicated for treating several retinal conditions that cause visual impairment. These include neovascular (wet) age-related macular degeneration (AMD), macular oedema resulting from central or branch retinal vein occlusion (CRVO and BRVO), diabetic macular oedema (DME), and myopic choroidal neovascularisation (myopic CNV).
Furthermore, the company said the approval is based on a comprehensive package of analytical, nonclinical and clinical data, confirming that Yesafili is highly similar with no clinically meaningful differences to Eylea regarding quality, safety and efficacy.
In April this year, Yesafili received approval for launch in the United States. In May 2024, the US Food and Drug Administration approved Yesafili.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Mint
4 days ago
- Mint
Biocon Biologics posts strong Q1 growth as North America, Europe deliver
Biocon Biologics Ltd, the biosimilars unit of biopharmaceutical giant Biocon and its largest revenue driver, expects to accelerate growth after reporting a strong first quarter, according to its top executive. The company's revenue grew 18% year-on-year to ₹2,458 crore, and Ebitda rose 36% on a like-for-like basis to ₹645 crore in the quarter ended June. Its Ebitda margin expanded to 26% during the quarter. 'The growth this quarter has come from North America and Europe, in both the advanced markets. And primarily on our oncology franchise," chief executive officer Shreehas Tambe told Mint in an interview. Some of its key biosimilars in the oncology portfolio, such as Fulphila and Ogivri, have held market share of over 25% in these markets, said Tambe. The firm also received the US Food and Drug Administration's (FDA) approval for Kirsty (Insulin Aspart), which is the first known interchangeable rapid-acting analogue to innovator Novo Nordisk's NovoLog. 'It is very differentiated given that there is no competition there, just the innovator and us and the innovators signalling that they are exiting the market," Tambe said. Also Read: Biocon misses estimates despite strong biosimilars growth The addressable market for Insulin Aspart in the US is $1.2 billion and an additional $1.6 billion market for another rapid-acting insulin Lispro (sold as Humalog by Eli Lilly). 'It sets us up very well for the coming quarters and beyond," Tambe added. The oncology portfolio is a key focus area for the company. Apart from that, it will continue to focus on diabetes and autoimmune diseases. The company has a pipeline of five new product launches in the next 12-18 months, which will drive growth. Global leadership North America was the largest market for Biocon Biologics last quarter, accounting for 40% of its revenue, followed by Europe (35%). Emerging markets made up the remaining 25%. The company is betting on growth on the back of its acquired global biosimilars business. 'We had a three-stage strategy for growth: first was to preserve the value of the acquired asset, which is what we did. Last year, we focused on consolidating it; we put all the building blocks in place," said Tambe, adding that this year the firm plans to accelerate towards growth. Biocon Biologics acquired the global biosimilars portfolio of its US-based partner Viatris in 2022 for $3.3 billion in stock and cash considerations, which made it a fully integrated global biosimilars business. Biocon is betting on the biosimilars business to drive growth and turn it into a global leader in the segment. The subsidiary is Biocon's largest revenue driver, contributing 61% to overall revenue in Q1FY26. Also Read: Divi's Laboratories' June-quarter profit, margin miss estimates 'Without the Viatris acquisition, we could never be a global biopharmaceutical company," Biocon's executive chairperson Kiran Mazumdar-Shaw told investors in a post-earnings call on Friday. 'This is going to be a game-changing transformative acquisition that we have made that will actually make us true global leaders," said Shaw, adding that the firm was well-positioned to surge to a global leadership position in the next five years. Successful fundraise In a bid to pare debt and increase its stake in Biocon Biologics, Biocon concluded its first equity fundraise since its 2004 IPO in the last quarter. It raised ₹4,500 crore through a qualified institutional placement (QIP) in June 2025. The funds will be used to increase Biocon's holding in its subsidiary Biocon Biologics, and provide an exit to private equity investors, the company said. Biocon Biologics has a net debt of $1.1 billion as of June 2025. The funds raised through the QIP have been partially used to retire optionally convertible debentures of Goldman Sachs, and the company will also retire non-convertible debentures (NCDs) with Kotak Securities and Edelweiss during the course of this fiscal, the company's management said in its post-earnings call. '...we will gradually start seeing interest costs come down," Siddharth Mittal, Biocon's CEO and managing director, told investors. Also Read: Eris Lifesciences betting on insulin expertise to boost its GLP-1 play The successful equity fundraise is 'certainly an indication that the market believes in the story," said Tambe. 'Second, by retiring all structured debt it certainly clears up the captable…Biocon Limited has a far larger stake than it had before." Biocon's board had announced in the fourth quarter of FY25 that it was setting up a strategic committee to evaluate a merger of Biocon Biologics with the parent company. The company has also been evaluating a public listing.


Time of India
4 days ago
- Time of India
After Industry pushback, Govt exempts Med Device steel imports from BIS Certification for select period
New Delhi: A day after the domestic medical device industry raised concerns over the BIS certification mandate on steel imports, the Steel Ministry has agreed to exempt the sector from the requirement for a select period, varying across different product categories. A domestic manufacturers' representative body, AiMeD had written a letter to the Ministry of Steel stating that the production of devices such as surgical blades, needles, and endoscope parts depends on imported stainless steel strips, and the BIS (Bureau of Indian Standards) certification mandate is restricting their imports, leading to 'disruption' of pipeline and product supply chain. In its letter the body had noted, for medical devices, a special grades of stainless strip is required to manufacture globally compliant and acceptable product, however, if we are unable to import the necessary stainless steel, their production-and thus their delivery commitments in the US, Europe, and India's healthcare system-will be disrupted, the letter note.' After meeting the ministry secretary, Rajiv Nath, Forum Coordinator, AiMeD, said, 'We are very thankful to the government for being responsive and empathetic to our genuine concerns and for averting a potential supply chain and health care crisis.' The body had sought exemption or a No Objection Certificate (NOC) for imports of stainless steel strip and capillary tube for making surgical blades, needle and endoscope parts. While the ministry is yet to notify the revision, according to Nath for manufacturing surgical blades one year reprieve has been granted, while for overseas manufacturers have been granted an expansion of 6 months provided they source hot-rolled steel from BIS-registered downstream manufacturers. For small volumes of low off-take capillary tubing cut lengths and stainless steel wire cut lengths, a NOC will be issued for imposters, based on recommendations by the Department of Pharmaceuticals, solely for manufacturing purpose and not for trading. The Bureau of Indian Standards is the nodal goods quality certification body in India and oversees the quality of goods through standardization, certification and testing. Currently the Steel Ministry has enforced a Quality Control Order (QCO) that prohibits the import of non-BIS-certified steel in the country. Earlier this month at a NATHEALTH press conference, Himanshu Baid, MD, Poly Medicure had voiced that, 'in Medtech steel is required for manufacturing implants, needles sourced from countries like Japan, Korea etc. but currently there is a QCO order on steel imports and many suppliers are refusing to export in India citing the additional layer of BIS certificate.' 'This order is overarching in the medical device industry and is causing huge disruption in the supply chain," he added. Baid also highlighted that, 'today the same steel is allowed to be imported in finished product form; however, imports of the same steel as raw material are restricted. Meanwhile, AiMeD, suggests that domestic strips lack suitable burrs on edges for consistent welding, have poor surface aesthetics, and do not meet dimensional standards, resulting in unacceptable welding inconsistencies and leakage. Whereas, for medical devices the specific grade stainless steel is required to manufacture globally compliant and market acceptable products.


Economic Times
4 days ago
- Economic Times
Biocon sees GLP-1 weight-loss therapy as a future growth driver
Synopsis Biocon will strengthen its insulin business while advancing in GLP-1 therapies, with semaglutide in Phase-III trials and a planned 2027 India launch. CEO Shreehas Tambe said both portfolios are complementary. Biocon aims to leverage its insulin experience for GLP-1 success, following US FDA approval for insulin aspart and India approval for liraglutide. External risks remain a key concern. ET Bureau Biocon will continue to deepen its push in the insulin business, even as the biopharmaceutical company will have GLP-1 weight-loss therapy as one of the key focus areas in its future growth strategy, Shreehas Tambe, chief executive of Biocon Biologics, told ET on decades of experience in insulin, the Bengaluru-based company aims to gain an edge over rivals in the race for copycats of GLP-1 drugs, which are gaining popularity as an effective treatment for glucose control as well as weight management. Biocon has completed bioequivalence studies in India for semaglutide, a GLP-1 drug, and is progressing to Phase-III trials, which it expects to conclude by the end of calendar year 2026.'Subsequent regulatory approval is anticipated in CY 2027, after which we will launch the product in India through a partner,' said Tambe, who is also the managing director of the biosimilar and biologics subsidiary of Nordisk's blockbuster weight-loss drug semaglutide (branded Wegovy) will go off patent in India in March. On being asked about the disruption in the diabetes drug segment due to the inroads by GLP-1 products, Tambe said: 'The disruption (due to GLP-1) is complementary to insulin. We are bullish on both insulin and GLP-1.''The originators who brought GLP1s are the insulin companies, and they were able to do that because it is synergistic. Synergy not just in terms of the therapy area but also in terms of operations, touchpoints for prescribers, healthcare givers and customers,' said Tambe, who is also the company's managing has both biosimilar insulins and GLP-1 peptides that mimic a naturally occurring gut hormone that controls sugar levels and appetite. 'That is what differentiates us from the rest,' he said.'Having been close to the market will give an advantage because it requires a lot of expertise as the drug is in the form of an injectable, given in a device, is a chronic treatment and hence requires a long-term relationship with patients who need to be trained on those devices,' said Tambe. 'All of these we have been able to do with our insulins in the past several years in 80-plus countries that is why we feel confident and we are developing both portfolios that are complementary to each other.'The company got US Food and Drug Administration approval for insulin aspart, its second interchangeable biosimilar insulin, deepening its presence in the US insulin market.'The US FDA approval of Kirsty (biosimilar aspart) builds on the strong foundation established with Semglee (biosimilar insulin glargine), enabling us to offer patients the full range of affordable short- and long-acting insulin therapies,' he said. 'Insulin aspart we will enter by the end of this fiscal,' he company got approval for diabetes drug liraglutide in India in June. The drug, used in treating type-2 diabetes, has already launched in the UK and the EU.'We are working towards expeditiously launching the drug product through our commercialisation partners in India,' said Tambe.'The biggest concern for the year ahead is external risks to the business, such as potential tariff and geopolitical headwinds. Some of these things are not in our control but that is the biggest concern for the whole industry too,' he said.