Biocon unit gets U.S. FDA nod for cancer drug biosimilar

Biocon Biologics, a subsidiary of Biocon, has scored a major win with the U.S. FDA approving JOBEVNE (bevacizumab-nwgd), a biosimilar to Roche's blockbuster cancer drug Avastin.

This drug is used to treat multiple cancers by inhibiting VEGF (vascular endothelial growth factor), effectively cutting off blood supply to tumors.

This marks Biocons seventh biosimilar approval in the U.S., expanding its oncology arsenal alongside OGIVRI (trastuzumab) and FULPHILA (pegfilgrastim). JOBEVNE is already being sold in Europe and Canada under the name ABEVMY.

CEO Shreehas Tambe hailed the approval as a testament to Biocons scientific strength and mission to make affordable biologics widely available. With U.S. sales of bevacizumab hitting ~$2 billion in 2023, JOBEVNE has blockbuster potential.

Biocon is a global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune.

On a consolidated basis, Biocon's net profit slumped 96.20% to Rs 25.10 crore while net sales rose 6.32% to Rs 3773 crore in Q3 December 2024 over Q3 December 2023.

Shares of Biocon dropped 5.33% to Rs 305.20 on Wednesday, 9 April 2025. The Indian stock market is shut today for Shri Mahavir Jayanti.

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