The Delhi High Court has allowed pharma firms, Biocon Ltd and Mylan Pharmaceuticals Pvt Ltd, to continue with manufacture and marketing of their breast cancer drug under their brand names ‘CANMAb’ and ‘HERTRAZ’. Justice Manmohan Singh made it clear that these companies would not call their product as “bio similar” to ‘Herceptin, Herclon, Biceltis’, the brand names of products by firm Roche Products (India) Pvt Ltd. “Defendants No 2 to 4 (Biocon and Mylan) may continue to manufacture, market and advertise their product under the name CANMAb or Bmab-200 or Hertraz on the basis of the approvals already granted to defendant No 2 without calling their product as ‘bio similar’ and/or ‘bio similar to Herceptin, Herclon, Biceltis’ or in any way ascribing any bio-similarity with that of the plaintiffs (Roche) products Herceptin, Herclon, Biceltis…,” the court said in its interim order. The court while passing the order on a petition filed by Swiss pharmaceutical firm Roche against Biocon and Mylan said that bio similar, a medical product almost identical to an original product manufactured by a different firm, would need to follow stringent guidelines framed in 2012 for getting regulatory approvals. The court allowed the sale and manufacture of affordable cancer drugs by Biocon and Mylan with certain restrictions on packaging and labelling and regulatory process. “Defendants No 2 to 4 may also manufacture and market the drug by qualifying the INN name Trastuzumab but not to use the said name stand alone on the carton or package insert as a brand name,” it said. Roche is the importer and marketer of innovator molecule Trastuzumab, a biological drug used primarily for treatment of HER 2 positive breast cancer, in India. “This interim measure is made only in view of the peculiar facts in the present case wherein the defendant No 2 (Biocon Ltd) is already in possession of approvals granted rightly or wrongly validity of which is questioned in this suit. “All the decisions made by defendant No 1 (Drug Controller General of India) and authorities and committees made therein in connection with future approvals shall take into consideration the guidelines of 2012 and also the findings arrived at in the present order by this court,” it said. Roche had filed the petition seeking injunction alleging that there was an imminent threat of introduction of purported biosimilar version of its biological drug Trastuzumab, which was claimed to have been jointly developed by Biocon and Mylan under their brand names CANMAb and HERTRAZ. Biocon stock price On April 27, 2016, at 10:57 hrs Biocon was quoting at Rs 570.40, up Rs 6.10, or 1.08 percent. The 52-week high of the share was Rs 581.20 and the 52-week low was Rs 396.50. The company’s trailing 12-month (TTM) EPS was at Rs 35.92 per share as per the quarter ended December 2015. The stock’s price-to-earnings (P/E) ratio was 15.88. The latest book value of the company is Rs 129.18 per share. At current value, the price-to-book value of the company is 4.42.
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