Biocon Shares Rise 2% After 10-Year Pertuzumab Supply Deal In Brazil

Biocon Limited has entered into a 10-year supply arrangement for Pertuzumab in Brazil through a partnership with Bahiafarma and Bionovis. The agreement is part of Brazil's Productive Development Partnership (PDP) programme and covers a therapy used in the treatment of HER2-positive breast cancer.

The consortium comprising Biocon, Bahiafarma and Bionovis has received a 100% allocation under the 10-year PDP programme for Pertuzumab.

The development also gives Biocon an opportunity to participate in Brazil's public oncology market while supporting the country's efforts to build local capabilities for complex biological medicines.

As of around 11:32 am on 8 September 2026, Biocon shares were trading around 2% higher after the company secured the 10-year Pertuzumab supply contract in Brazil. The stock touched an intraday high of ₹399 on the National Stock Exchange (NSE). The stock was still in the green at 01:17 pm IST, trading at ₹394.70, up 0.84% on the NSE.

Brazil Deal Links Pertuzumab Access With Localisation Plans

The programme provides access to Brazil's public healthcare market, which accounts for approximately 70% of the country's demand for Pertuzumab. Pertuzumab is a monoclonal antibody used in the treatment of HER2-positive breast cancer.

The programme also provides a framework for the product's phased localisation in Brazil over the medium to long term. This is expected to support the development of local capabilities for producing complex biological medicines.

Pertuzumab Deal To Generate Milestone Payments And Revenue Share

Under the arrangement, Biocon will receive milestone payments as well as a share of revenues generated from the Brazil PDP opportunity over the 10-year period.

Biocon CEO and Managing Director Shreehas Tambe said partnerships can help build local capabilities and improve access to affordable medicines. He said the agreement can also help the company reach more patients with HER2-positive breast cancer.

For Bahiafarma and Bionovis, the deal also fits into Brazil’s efforts to build domestic capacity for essential medicines and improve access to complex biological therapies

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