Biocon gets nod to market psoriasis drug in India

Biocon gets nod to market psoriasis drug in India Drugs Controller General allows marketing of Bangalore-developed Itolizumab BS Reporter / Bangalore Jan 09, 2013, 00:53 IST

Publicly-held biotechnology major Biocon announced on Tuesday that it has received marketing authorisation from the Drugs Controller General of India ( DCGI) for its novel biologic Itolizumab, anti CD6 molecule, for the treatment of chronic plaque psoriasis.

Itolizumab is a first-in-class therapy and the second novel biologic developed by Biocon at Asias largest biotech hub in Bangalore.

Commenting on this development, Kiran Mazumdar-Shaw, chairman and managing director of Biocon, said, This is our second novel biologic that we have developed in India, BioMab EGFR, an anti-cancer monoclonal antibody, being the first. This approval paves the way for us to extend clinical development for other indications like rheumatoid arthritis, multiple sclerosis and vitiligo.

She added that the company will file an IND (investigational new drug) in the US shortly to embark on a global clinical development plan. She termed the approval for Itolizumab a defining moment for Biocon.

Alzumab is expected to provide a safe and effective treatment option for psoriasis, a socially debilitating disease affecting two-three per cent of Indias population. The global psoriasis market size is estimated to cross $8 billion by 2016.

Biocons share price dropped 2.3 per cent on the National Stock Exchange to close at Rs 294.70 per share on Tuesday.

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Biocon gets nod to market psoriasis drug in India