Lupin receives European Commission approval for biosimilar

New Delhi, Feb 23 (PTI) Drug maker Lupin on Monday said it has received approval from the European Commission for its biosimilar for the treatment of various eye conditions.

The company has received approval for Ranluspec (ranibizumab), following the recent positive opinion from the Committee for Medicinal Products for Human Use.

Ranibizumab is indicated for the treatment of patients with neovascular (wet) age-related macular degeneration, macular edema following retinal vein occlusion, diabetic macular edema, proliferative diabetic retinopathy, and choroidal neovascularization.

"This achievement underscores the strength and quality of our scientific capabilities and manufacturing excellence," Lupin President EMEA and Emerging Markets Thierry Volle said.

Lupin's biosimilar ranibizumab will be commercialised by Sandoz across the European Union (excluding Germany).

In France, the product will be commercialised by two companies, Sandoz and Biogaran.

Lupin shares on Monday ended 1.14 per cent up at Rs 2,245.10 apiece on BSE. PTI MSS MR