Biocon Biologics, a subsidiary of Biocon Ltd, announced on Thursday that it has received approval from the United States Food and Drug Administration (USFDA) to market Jobevne (bevacizumab-nwgd), a biosimilar to the oncology drug Avastin (bevacizumab), for intravenous administration.
In a filing, the company stated that Jobevne is a recombinant humanised monoclonal antibody indicated for the treatment of various forms of cancer.
The drug functions as a vascular endothelial growth factor (VEGF) inhibitor, binding to VEGF and preventing its interaction with receptors to inhibit angiogenesis—the process by which tumors develop new blood vessels—thereby limiting tumor growth.
The company already markets the biosimilar under the brand name Abeymy in Europe and Canada.
Shreehas Tambe, CEO and Managing Director of Biocon Biologics, described the approval as a “significant milestone,” noting that Jobevne is the company’s seventh biosimilar to be approved in the US.
“This reinforces our commitment to offering high-quality, affordable treatment options and strengthening our oncology portfolio,” he said. “We look forward to collaborating with stakeholders across the healthcare ecosystem to enhance patient access.”
As per industry estimates, sales of bevacizumab in the United States reached approximately $2 billion in 2023.
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