Biocon & Abraxis Bioscience announces licensing agreement

Biocon has announced that the company and Abraxis BioScience, an integrated, global biopharmaceutical company has announced a licensing agreement for the commercialization of ABRAXANE in India.

Under the terms of the agreement, the company will also have the right to market ABRAXANE in Pakistan, Bangladesh, Sri Lanka, United Arab Emirates, Saudi Arabia, Kuwait and certain other persian gulf countries. As part of this agreement, Abraxis will receive royalties from the company based on net sales of ABRAXANE in these countries.

In July 2007, Abraxis submitted to India’s Ministry of Health and Family Welfare an application to market ABRAXANE for the treatment of breast cancer.