Page 144 - CW E-Magazine (12-3-2024)

Pharmaceuticals

EXPANDING FOOTPRINT
Sigachi Industries forms JV to tap UAE food and

pharma market

Hyderabad-based pharma excipient exchange filing. According to the filing,
specialist, Sigachi Industries Ltd., has Sigachi Global is expected to have
announced the incorporation of a joint revenues of $54-mn by 2029.
venture in UAE to tap opportunities in
the region’s food and pharma market. Last year, Sigachi MENA FZCO
had formed a JV, Sigachi Arabia, in
The joint venture – Sigachi Global – Saudi Arabia with an advisory invest-
was formed by Sigachi MENA FZCO, ment firm, Saudi National Projects
a wholly-owned subsidiary of Sigachi core verticals, viz. pharma (excipients Investment. The JV was set up as a hold-
Industries based in Dubai and iCon- and APIs), food & nutrition, and ope- ing company that would create sepa-
sult Trading Consultancy LLC, a rations and management (O&M) as rate entities to manage its core verti-
wholly-owned subsidiary of iMass required. Sigachi MENA FZCO will cals, viz. pharma, food & nutrition, and
Investments. “Sigachi Global will create hold 75% stake and iConsult shall hold O&M. The JV was also planning to set
separate entities to manage Sigachi’s 25% in the JV,” the company said in an up a manufacturing facility in Riyadh.

‘Bristol Myers Squibb to have largest R&D presence
outside US by 2025’

Pharma major Bristol Myers Squibb drug development through the use of The cancer-focused U.S. drugmaker
aims to expand its R&D presence in digital technologies and artificial intel- is currently developing next-generation
India and expects its newly inaugurated ligence, he said in his keynote speech at cell therapies for autoimmune diseases
Hyderabad facility to become its largest the BioAsia conference held in Hydera- such as multiple sclerosis and plans to
unit outside the US by 2025, according bad in the last week of February. use AI technologies to accelerate the
to its CEO, Dr. Christopher Boerner. development, Dr. Boerner said.
Bristol Myers also operates a R&D
The $100-mn facility, inaugurated centre in Bengaluru in partnership with The company plans to make these
recently, is expected to employ over the Biocon Group’s Syngene Inter- more widely available, including in
1,500 and will be used to enhance its national. markets such as India, he added.
Biocon Biologics settles patent issue; paves way
for launch of biosimilar product in Canada

Biocon Biologics said it has inked a ment, Biocon Biologics has secured a of any patent issues, Biocon Biologics
patent settlement agreement with Bayer launch date for the product no later than said.
Inc. and Regeneron Pharmaceuticals July 1, 2025, it added.
Inc., paving the way for it to launch a The settlement resolves multiple
biosimilar product in Canada. Yesafili, an ophthalmology product, parallel patent infringement proceed-
is intended for the treatment of neovas- ings in the Federal Court of Canada
The settlement pact paves the way cular (wet AMD), age-related macular involving six patents, and associated
for the introduction of ‘Yesafili’, a pro- degeneration, among other issues. judicial review proceedings, under
posed biosimilar to Eeylea (aflibercept) Canada’s Patented Medicines (Notice
injection, in the Canadian market, In March 2023, Health Canada had of Compliance) Regulations addressing
Biocon Biologics said in a regulatory granted tentative approval for Yesafili pre-entry pharmaceutical patent litiga-
filing. Under the terms of the agree- (2-mg vials), subject to the resolution tion, it noted.

144 Chemical Weekly March 12, 2024

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