Biocon Biologics obtains FDA nod for Avastin biosimilar
Biocon Biologics has received the Food and Drug Administration’s green light for Jobevne (bevacizumab-nwgd), a biosimilar bevacizumab for intravenous use.
Jobevne, which is a recombinant humanized monoclonal antibody used to treat several different types of cancer, is a biosimilar to Genentech’s Avastin (bevacizumab).
Jobevne is a vascular endothelial growth factor inhibitor that binds with VEGF and blocks the interaction with its receptors to prevent angiogenesis—combating cancer by restricting blood supply to the tumor.
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The approval of Jobevne expands Biocon Biologics' biosimilar oncology portfolio in the United States, which also includes Ogivri (Trastuzumab-dkst) and Fulphila (Pegfilgrastim-jmdb). The company also markets bevacizumab in Europe (approved February 2021) and Canada (approved November 2021) under the name Abevmy.
Shreehas Tambe, CEO and managing director, Biocon Biologics, said, "The U.S. FDA approval of Jovevne (bevacizumab-nwgd) is a significant milestone—our seventh biosimilar approved in the U.S. and a strong addition to our robust oncology portfolio. It underscores the depth of our scientific expertise and commitment to expanding access to high-quality, affordable biologics. We look forward to working with all stakeholders to bring more treatment options to patients."
Bevacizumab had a market value of approximately $2 billion in 2023, per IQVIA data.
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