Biocon, Abraxis Sign Abraxane Agreement

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Biocon, an Indian biotech company, and Abraxis BioScience announced a licensing agreement for the commercialization and marketing of Abraxane, a treatment for breast cancer, in several Asian and Middle Eastern nations.

Under the terms of the agreement, Biocon said it will have the right to market Abraxane (paclitaxel protein-bound particles for injectable suspension) (albumin-bound) in Pakistan, Bangladesh, Sri Lanka, United Arab Emirates, Saudi Arabia, Kuwait and certain other Persian Gulf countries.

Abraxis said it will receive royalties from Biocon based on net sales of Abraxane in these countries.