SAINT PETERSBURG, Russia--(BUSINESS WIRE)--In the end of March, 2016 a leading Russian and international biotech company BIOCAD started the delivery of anti-tumor drug trastuzumab to Sri Lanka. The drug was approved in the country approximately one month ago. Distribution agreement with a partner in Sri Lanka was made in 2014. BIOCAD is the first pharmaceutical company in Russia to make export deliveries of anti-cancer drugs for the amounts exceeding $150 m.
Trastuzumab is the first biosimilar on the list of BIOCAD’s drug products to be exported to Sri Lanka. The entire contract includes several pharmaceuticals based of monoclonal antibodies produced in Russia by BIOCAD. In several years ahead the volume of sales is expected to reach $10 m.
According to Dmitry Morozov, BIOCAD’s founder and CEO, the reason for success of Russian high-tech, biological drug products in the international market is rather obvious: “Firstly, products are of high quality that was confirmed in numerous international clinical trials. Secondly, our pharmaceutical products are considerably more affordable than the western-made original drugs. This significant fact gives hope for recovery to many more patients, and that is vitally important in countries like Sri Lanka.”
In the past several years, Russian export to Sri Lanka shows positive dynamics.
Gross value of delivered goods was $26 m in 2010. Since then it constantly increased, and in 2014 reached $260.32 m (78% in comparison to the previous year). The main categories of export from the Russian Federation to Sri Lanka are coal (including pressed), mineral fuel, wheat, asbestos, mineral and chemical fertilizers, and other. Biopharmaceutical products are exported from Russia to Sri Lanka for the first time.
BIOCAD has already signed several agreements with partners in South- and South-East Asia, Latin America, South Africa and the MENAT region. Russian high-tech drugs for treating cancer and autoimmune diseases are in great demand internationally. BIOCAD’s pharmaceuticals have the same efficacy as the similar Western products; however, BIOCAD’s prices are considerably lower.