Aurobindo Pharma subsidiary, CuraTeQ expands scope of agreement signed with Orion

Aurobindo Pharma announced that its subsidiary, CuraTeQ Biologics has expanded the scope of its marketing and distribution agreement with Orion Corporation to commercialize its biosimilars pipeline to include the Baltic states in Europe.

Earlier in 2020, CuraTeQ Biologics (CuraTeQ) and Orion Corporation (Orion) had entered into a licensing agreement, granting marketing and distribution rights for CuraTeQ's biosimilar products under development in the Nordic states, Austria, Hungary and Slovenia.

Under the terms of the agreement, Orion will be responsible for commercialization of CuraTeQ's biosimilar products, currently in various stages of development/filing for the partnered territories. CuraTeQ will leverage Aurobindo's established commercial presence in the nine European markets, including United Kingdom, France, Germany, Spain, Italy, Portugal to commercialise the biosimilar products in these markets (non- partnered).

CuraTeQ filed its first oncology biosimilar product with the European Medicines Agency (EMA) in September 2021 and filed its second biosimilar product, also in the oncology segment on 10 January 2022.

On a consolidated basis, Aurobindo Pharma's net profit fell 13.7% to Rs 696.71 crore on 7.7% decline in net sales to Rs 5,889.93 crore in Q2 FY22 over Q2 FY21.

Shares of Aurobindo Pharma declined 2.05% to Rs 722.85 on BSE. Aurobindo Pharma headquartered at Hyderabad, India, develops, manufactures and distributes generic pharmaceuticals, branded specialty pharmaceuticals and active pharmaceutical ingredients.

Powered by Capital Market - Live News