Biocon launches Hepatitis C drug, stock soars

Pharma-major Biocon has  introduced an advanced novel therapy, CIMIVIR-L for treatment of Hepatitis C virus (HCV) in India. CIMIVIR-L is a fixed dose combination of Ledipasvir 90 mg and Sofosbuvir 400 mg, which is an equivalent of the innovator product commercialised by Gilead Sciences in the US.

According to World Health Organisation (WHO), about 130 to 150 million people worldwide are chronically infected with HCV, and more than 5 lakh people die due to the HCV-related liver diseases each year. There are already 12 to 18 million Indians suffering from this disease. It is estimated that almost one lakh people die annually in India from HCV infection.

According to medical fraternity, HCV is curable if detected in the initial stages. But HCV is impossible to cure at a later stage when it develops into chronic liver diseases or liver cancer.

CIMIVIR-L is a once a day oral therapy which offers a convenient, effective and safe alternative to people infected with HCV. The dosage will be available to patients in India at a fraction of global cost of the innovator brand. The cost of the 12 week course of this combination therapy in the US is USD 94500 (approximately Rs 63 lakhs).

Biocon is India's largest and fully integrated , innovation led biopharmaceutical company .The company manufactures pharmaceuticals, medicinal, chemical and botanical products. It serves customers in more than 100 countries. Biocon is engaged in developing biologics and biosimilars for addressing chronic diseases, such as cancer, diabetes and autoimmune conditions for patients across the world.

Biocon will have competitive advantage over compared to existing therapies. Clinical studies by the innovator on a wide range of chronic HCV patients have shown that the Sofosbuvir – Ledipasvir combination therapy resulted in very high cure rates ranging from 94 per cent to 99 per cent.

Drug Controller General of India (DCGI) recently approved sale of Sofosbuvir Ledipasvir combination which is being manufactured in India under licence from Gilead. Biocon has licensing agreement with US based Gilead to manufacture and commercialise its chronic HCV relief product range in India and in selective emerging markets. These territories account for more than 50 per cent of global HCV dominance.

According to Biocon management, at present the new drug is approaching Rs 200 crore and it is expected to rise to Rs 500 crore in Indian market. The global exposure for the drug is likely rise to Rs 1000 crore as the company has licence to market this drug in 90 developing countries.

Biocon share prices increased by 6.28 per cent on the bourses in early trades on Thursday and is trading at Rs 507 on intraday basis. The share price of the company touched 52 week high in intraday.