AstraZeneca to Expand in India through Licensing Deals and Partnerships
Sanjeev Panchal, the Managing Director of AstraZeneca Pharma India, has revealed that the British-Swedish pharmaceutical company intends to introduce 15 new offerings in India within the next two years. These releases will encompass innovative treatments as well as new applications for existing assets. Panchal stated that the company plans to commence these launches in 2023 and continue them through 2025.
The pharmaceuticals are slated to be categorized under therapeutic areas, including cancer, cardiovascular, renal, and metabolic (CVRM) conditions, respiratory and immunology, and rare diseases. Panchal noted that among the new medications, there will be biologics or monoclonal antibodies.
To increase access to its innovative therapies, AstraZeneca is pursuing strategies such as public-private partnerships (PPPs) for screening and early diagnosis, licensing deals with Indian pharmaceutical companies to increase reach, and implementing a country-specific or tiered pricing approach in India based on economic indicators, ensuring drug prices are lower than in advanced countries, he said.
Panchal emphasized that the upcoming launches will drive the company's growth in India. AstraZeneca's business in India saw a resurgence in FY23 following nearly two years of revenue stagnation attributed to the patent expiration of key medications like Brilinta (ticagrelor) for antiplatelet therapy and Forxiga (dapagliflozin) for diabetes management.
AstraZeneca witnessed a remarkable growth in revenue, surging by more than 28% year-on-year to Rs 939 Crore for the nine months ending December 31, 2023. This growth was primarily propelled by the success of innovative compounds such as Tagrisso (osimertinib) for lung cancer, Lynparza (olaparib) for ovarian cancer, Imfinzi (durvalumab), Fasenra (benralizumab) for asthma, and Calquence (acalabrutinib) for lymphoma.
In January, AstraZeneca unveiled the accessibility of Trastuzumab Deruxtecan, an antibody-drug conjugate (ADC) designed for HER-2 positive metastatic breast cancer patients in India. Furthermore, it has made its foray into the rare disease therapeutic segment in India by introducing Koselugo (selumetinib) for the treatment of Neurofibromatosis (NF1). Additionally, the company recently disclosed the introduction of a monoclonal antibody tailored for preterm newborns.