Biocon, Genentech settle legal issues to launch Pebrilzo by 2028
Business
Biocon just struck a global deal with Genentech, clearing up legal issues and opening the door to launch its cancer drug Pebrilzo.
This biosimilar to Perjeta (used for HER2-positive breast cancer) is now set to hit the EU and the UK by early 2027, and the US in Q3 2028.
Biocon shares down 10% YTD
The agreement gives Biocon a real shot at competing in the cancer treatment space. Details of the deal are under wraps, but these launch dates show it's playing it smart.
Still, even with this big move, Biocon's stock dipped slightly on announcement day and is down 10% so far this year.