Biocon has received European approvals for its Rosuvastatin Calcium 5 mg, 10 mg, 20 mg and 40 mg tablets. The company has stated its Rosuvastatin Calcium is a generic equivalent of Crestor of AstraZeneca tablets, indicated for hyperlipidemia or mixed dyslipidemia.
This first generic formulations approval in the regulated markets marks an important milestone in Biocon’s small molecules strategy of forward integration from APIs to finished dosages. The approval for Rosuvastatin Calcium, through decentralized procedure will open the doors for Biocon to over 15 European countries and will enable the company to address US$ 1.2 billion opportunity, starting FY17. It is the first generic company to receive a Certificate of Suitability (CEP) for Rosuvastatin Calcium API from the European Directorate for the Quality of Medicines (EDQM). CEP certification indicates that an API is suitable for use in medicinal products in the EU, according to the company.
“This is indeed a proud moment for Biocon’s small molecules business. This approval paves the way for us to launch Rosuvastatin Calcium tablets in several European countries. We plan to collaborate with regional partners in the near term to provide access to this affordable generic and thus help patients and governments to bring down their healthcare spends,” said Kiran Mazumdar-Shaw, CMD, Biocon.
According to Dr. Arun Chandavarkar, CEO and joint managing director, Biocon, the European approval for our generic version of Rosuvastatin Calcium underscores our strength in the chronic therapies space and our compliance with global standards that enable us to achieve the highest quality standards for all our products. It augurs well for this nascent business, which will be one of our growth drivers in the coming years.”
The company aims to rev up its generic formulations business with a target of 20-25 filings over the next few years. Its new potent oral solid dosage formulations facility coming up in Bengaluru will enable this business expansion. It is also working on dossiers to introduce these formulations in emerging markets where regulatory clearances are primarily based on approvals given by regulators in the US/EU. It has been a partner of choice for pharma companies globally that rely on the company's differentiated portfolio of APIs spanning complex molecules ranging from cardiovascular and anti-obesity agents to immunosuppressants and narrow spectrum antibiotics. It has built on this core expertise in APIs to develop value-added generic formulations for both emerging and developed markets. It had filed an initial set of Marketing Authorisation Applications (MAAs) in the EU and Abbreviated New Drug Applications (ANDAs) in the US in FY15, stated the company release.