Reliance Lifesciences, the biopharmaceutical unit of Mukesh Ambani-led Reliance Industries, has launched the world’s first biosimilar, or copies of bevacizumab, a complex medicine used to treat at least six forms of advanced cancers. Reliance’s product is approved by the Indian regulator for use in cases of colorectal cancer.
Swiss biotechnology powerhouse Roche is the innovator of bevacizumab and markets it globally as Avastin. The product had annual sales in excess of $7 billion last year. While Reliance will market the bevacizumab copies under its own brand name Bevacirel, it has also entered into a “principal-to-principal agreement” with Mumbai-based drug maker Lupin, two top industry persons familiar with the matter told ET.
In 2014, Reliance had entered into a similar arrangement with Torrent Pharma to sell copies of three drugs, rituximab, adalimumab and cetuximab.
With the latest introduction of bevacizumab in the Indian market, Reliance has a stable of four complex biotech drugs that are launched first time globally. It had introduced a recombinant chorionic gonadotrophin hormone used in assisted reproduction, interferon beta for the treatment of multiple sclerosis, and reteplase, a drug used in the management of myocardial infarction.
A Reliance official declined to comment on the development. Lupin did
not respond uuntil the time of going to press. Reliance’s bevacizumab is expected to compete with Roche’s brand, but unlike most biosimilar launches, where the cut price versions are sold at roughly 25% discount over the innovator’s price, market sources said Reliance has kept a minuscule gap between the price of its product and that of Roche.Roche’s Avastin of 100 mg strength is learnt to be sold at about Rs 29,500 while Reliance is likely to market its product at Rs 28,300 per injection. For the 400 mg variant, Avastin is available at about Rs 1,08,000 and Reliance’s drug is sold at Rs 1,05,000 for each injection.
Market sources estimated the market at about Rs 170 crore, but added that a wider market footprint of Lupin and Reliance will accelerate the reach.
