Biocon moves into Europe

Biocon Ltd. has been manufacturing active pharmaceutical ingredients since it was founded in 1978 but is now better known for its biologics, which it sells itself in India and through partners in South America, Asia and the Middle East. Armed with this experience and bolstered by what it sees as a shift in the global dynamics of public healthcare, the company is moving to expand its reach in the biosimilars space to Europe through its acquisition of 70% of AxiCorp GmbH.

Biocon's first marketed biologic is Insugen, a biosimilar recombinant insulin that was approved in India in 2004. The company has since received approval in India for three other biosimilars: Erypro erythropoietin (EPO) to treat anemia; Nufil filgrastim, a granulocyte-colony stimulating factor (G-CSF) to treat neutropenia; and the thrombolytic agent Myokinase streptokinase...