India’s leading biotech firm Biocon has announced that it has plans to launch a new anti-arthritis drug in the next three-four years. This anti-arthritis drug would have the potential to “be a multi-billion dollar opportunity for the company” .
“The new molecule (T1H) which has completed phase II of clinical trials can prove to be a multi-billion opportunity for us,” said chairman and managing director of Biocon Ltd Kiran Mazumdar Shaw, on the sidelines of the 22nd Indian Economic Summit here.
“Phase III of the trails will start within the next 18 months and for that we are looking at global partners,” she added.
The company is also looking at earning revenue of about $100 million from the recent cancer drug BIOMAb-EGFR, mainly from the Middle East market.
Biocon launched BIOMAb-EGFR last month for treating solid tumours of epithelial origin including head and neck cancers.