Biocon announced the signing of partnership agreement with Bahiafarma and Bionovis for Pertuzumab in Brazil, marking an important milestone in advancing production and commercialisation of the HER2-positive breast cancer therapy under the country's Productive Development Partnership (PDP) program.

The consortium of Biocon, Bahiafarma and Bionovis received 100% allocation under Brazil's 10-year PDP program for Pertuzumab.

The PDP provides the consortium exclusive access to Brazil's public healthcare market, which accounts for approximately 70% of the country's demand for Pertuzumab. It also supports the long term adoption of Biocon's product within Brazil's public oncology network.

Biocon will receive milestone payments and a share of revenues generated from the Brazil PDP opportunity over a 10-year period. As part of the PDP framework, the product will undergo phased localization in Brazil in the mid to long term.