Prestige BioPharma Signs Supply Agreement for Avastin Biosimilar with Indian Pharmaceutical Company

[Asia Economy Reporter Lee Gwan-joo] Prestige BioPharma announced on the 26th that it has signed a supply agreement with India's Intas Pharmaceuticals for its Avastin (active ingredient Bevacizumab) biosimilar 'HD204' currently under development.

The licensed regions under this agreement include most major global markets such as Europe, the United States, the United Kingdom, Canada, Brazil, Mexico, the Middle East and North Africa (MENA), and Southeast Asian countries. Specific milestone and profit-sharing details were not disclosed.

HD204 is currently undergoing global Phase 3 clinical trials in 17 countries. The company explained that HD204 is a biosimilar of Avastin, a treatment used for solid tumors such as colorectal cancer, lung cancer, and ovarian cancer, and that biological similarity with the US and European reference drugs was demonstrated in Phase 1 clinical trials.

Park So-yeon, CEO of Prestige BioPharma, stated, “Along with development capabilities, cost reduction in production and securing efficient distribution channels are essential survival strategies for latecomer biosimilar companies. This agreement with the Intas Group will serve as a stepping stone for the rapid market entry of HD204.”