[Asia Economy Reporter Seo So-jung] Boryung Pharmaceutical (CEO Jang Doo-hyun) announced on the 1st that it has launched the biosimilar "Onbev Injection (generic name Bevacizumab)" for which it signed an exclusive domestic distribution agreement with Samsung Bioepis (CEO Ko Han-seung).
Onbev Injection is the first domestic biosimilar of Roche's anticancer drug "Avastin," developed by Samsung Bioepis, and in March, it became the first in Korea to obtain marketing authorization from the Ministry of Food and Drug Safety.
Onbev Injection, launched simultaneously with its listing on the drug reimbursement list, is a product proven through Phase 1 and Phase 3 clinical trials to have equivalent efficacy and safety compared to the original product Avastin.
Its indications include metastatic colorectal cancer, metastatic breast cancer, non-small cell lung cancer, advanced or metastatic renal cell carcinoma, glioblastoma, epithelial ovarian cancer, fallopian tube cancer or primary peritoneal cancer, and cervical cancer.
Boryung Pharmaceutical explained, "With an economical insurance price 37% lower than Avastin, we can provide treatment opportunities to more patients," adding, "The shelf life has also been extended from 24 months to 36 months to facilitate storage."
Boryung Pharmaceutical, ranked first in the anticancer drug market share (among domestic pharmaceutical companies), plans to target the domestic Bevacizumab market worth 120 billion KRW annually with differentiated anticancer drug sales and marketing competitiveness.
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