BIOCAD expects to make 50% of total revenue from export activities by 2023
SAINT PETERSBURG, Russia--(BUSINESS WIRE)--Oct 12, 2018--The biotechnology company BIOCAD expects CPhI Worldwide to ensure a favorable climate for signing new distribution agreements with representatives of the pharmaceutical industries of Greece, UAE and Mexico. BIOCAD has signed an agreement with Greek company WinMedica have already expressed their interest in the adalimumab biosimilar indicated for the treatment of some autoimmune diseases; its dossier is currently being prepared for submission for registration in the European Union in 2021. Expected that clinical trial in EU will start already next year. BIOCAD is going to export more than 115000 packages of the drug product to Greece and Cyprus in the first five years. At CPhI, BIOCAD has reached also a supply agreement with one of the largest pharmaceutical manufacturers in the Middle East and Africa, Julphar. Medicines produced by BIOCAD are competitive in their effectiveness, as well as the price. Therefore, the presence of Russian innovative drugs in the United Arab Emirates will help make important biological therapies widely accessible to patients. The technology transfer agreement have signed between BIOCAD and a Mexican company Psicofarma S.A. De C.V. for three therapeutic monoclonal antibodies, trastuzumab, rituximab and bevacizumab. BIOCAD expects the turnover of 198 mil. $ from European countries and approximately 516 mil. $ from Asia, Latin America and MENAT region by 2023.
According to BIOCAD’s estimations export revenues will increase by 80%
“Today, we owe the exports core to North Africa, India and Asia,” says Dmitry Morozov, BIOCAD’s CEO, “but we expect that soon after receiving marketing authorizations in Latin America, including Argentina, Colombia, and in MENA countries, primarily Egypt, these regions will challenge the leadership. We also expect high sales after completion of authorization procedures in the EU countries, and then in Japan and China.”
Since September 2017, the company has been actively working to localize BIOCAD production in Turku, Finland. Activities planned for 2019 include completion of the manufacturing site design, setting up a network of contact analytical laboratories, initiation of clinical studies in the EU countries, purchase of materials and services for the cleanrooms of the new facility. The first sales in Finland are anticipated in 2022.
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PUB: 10/12/2018 01:56 AM/DISC: 10/12/2018 01:56 AM