Shares of Biocon rose 2% on Tuesday, hitting the day’s high of Rs 399 on NSE after the company secured a 10-year supply contract for Pertuzumab in Brazil for breast cancer therapy.
According to a filing with the exchange, the company said it signed a partnership agreement with Bahiafarma and Bionovis for Pertuzumab in Brazil, marking an important milestone in advancing production and commercialisation of the HER2-positive breast cancer therapy under the country’s Productive Development Partnership (PDP) program.
The company further said that the consortium of Biocon, Bahiafarma and Bionovis received 100% allocation under Brazil's 10-year PDP program for Pertuzumab.
Pertuzumab is a monoclonal antibody used in the treatment of HER2-positive breast cancer, and at present, the product is not manufactured locally in Brazil and is a significant expenditure for the country's Unified Health System (SUS).
The productive development partnership provides the consortium exclusive access to Brazil’s public healthcare market, which accounts for approximately 70% of the country’s demand for Pertuzumab.
This partnership also supports the long-term adoption of Biocon’s product within Brazil’s public oncology network.
“Brazil is an important country for Biocon, and our journey here reflects the transformative potential of strong partnerships in building local capabilities and expanding access to high-quality, affordable medicines. This long-term supply contract for Pertuzumab marks a significant milestone in this journey, enabling us to reach more patients living with HER2-positive breast cancer and address an important healthcare need at scale,” said Shreehas Tambe, CEO & Managing Director, Biocon.
“In partnership with Bahiafarma and Bionovis, we are bringing together science, innovation, manufacturing excellence and local expertise to create a more sustainable pathway for access to this important cancer therapy. Together, we are not only supporting better patient outcomes but also helping build a stronger, more resilient healthcare ecosystem in Brazil,” Tambe further said.
The global biopharmaceutical company further said that it will receive milestone payments and a share of revenues generated from the Brazil PDP opportunity over a 10-year period. As part of the PDP framework, the product will undergo phased localisation in Brazil in the mid to long term.
Bahiafarma is a public pharmaceutical laboratory of the State of Bahia, Brazil, focused on pharmaceutical research, technological development, innovation and the production and supply of medicines and other health products, particularly for Brazil’s SUS.
“We celebrate the conclusion of this stage with the certainty that we are advancing in a strategic project for public health. It is the result of a work built in partnership, and that paves the way for the incorporation of a highly complex technology, contributing to Brazil strengthening its capacity to produce essential medicines for its Unified Health System (SUS),” said Ceuci Nunes, CEO, Bahiafarma.
Bionovis is a Brazilian biotechnology company focused on developing, manufacturing and commercialising complex biological medicines and biosimilars, with a strong emphasis on technology transfer, local biopharmaceutical manufacturing and expanding access to advanced therapies in Brazil.
“Through our partnerships with Biocon and Bahiafarma, we reinforce our commitment to the public policies of the Health Economic-Industrial Complex and to Productive Development Partnerships, expanding the Brazilian population's access to highly complex biological medicines, generating incomes, employing specialised professionals, and promoting the country's productive autonomy,” said Odnir Finotti, CEO, Bionovis.
In 2026 so far, Biocon shares were up 1.84% and nearly 8.44% in the last one year. The stock gained 48.24% in the last three years and 11% in the last five years.