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U.S. FDA Accepts Biologies License Application for Mylan and Biocon's Proposed Biosimilar Pegfilgrastim for Review

Posted On: 2017-02-16 19:55:29

Mylan N.V. (NASDAQ, TASE: MYL) and Biocon Ltd. (BSE code: 532523, NSE: BIOCON) today announced that the U.S. Food and Drug Administration (FDA) has accepted Mylan's Biologics License Application (BLA) for MYL-1401H, a proposed biosimilar to Neulasta® (pegfilgrastim), for filing through the 351(k) pathway.

The proposed biosimilar to Neulasta is used to reduce the duration of neutropenia (low count of neutrophils, a type of white blood cells) and the incidence of fever associated with neutropenia in adult patients treated with chemotherapy in certain types of cancer.

The FDA goal date set under the Biosimilar User Fee Act (BsUFA) is Oct. 9, 2017.

Mylan President Rajiv Malik commented: "We're proud of the FDA acceptance of our BLA for proposed biosimilar pegfilgrastim. This is the second BLA accepted for review by FDA as part of the Mylan and Biocon partnership within the past two months. The milestone builds upon the acceptance of regulatory filings for proposed biosimilar pegfilgrastim in Europe, Australia, and Canada and reinforces our dedication and commitment to establishing a global platform for this product. Once approved, proposed biosimilar pegfilgrastim will complement Mylan's broad oncology portfolio focused on expanding access to more affordable treatments for multiple types of cancer."

Dr. Arun Chandavarkar, CEO and Joint Managing Director, Biocon, said: "We are extremely pleased with the regulatory progress of our biosimilars in the U.S. The FDA's acceptance for review of our second BLA for a proposed biosimilar developed by Biocon and Mylan is an outcome of our strong R&D and manufacturing capabilities. Once approved, our proposed biosimilar pegfilgrastim will provide a high quality alternative to branded pegfilgrastim (Neulasta®) for cancer patients during cytotoxic chemotherapy. It will expand our oncology portfolio and further enable us to fulfil our promise of making cancer-care affordable and accessible for patients across the globe."

Shares of BIOCON LTD. was last trading in BSE at Rs.1094.75 as compared to the previous close of Rs. 1057. The total number of shares traded during the day was 39494 in over 2259 trades.

The stock hit an intraday high of Rs. 1098.85 and intraday low of 1053. The net turnover during the day was Rs. 42475635.

Source: Equity Bulls

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