#San Jose #Costa Rica #SteinCares #Biosimilars #Shilpa Biologicals

SteinCares Partners with Shilpa Biologicals for Latin American Biosimilar Market

In a significant development for the healthcare sector, SteinCares, a prominent specialty healthcare company, has teamed up with Shilpa Biologicals Pvt. Ltd. (SBPL), a biopharmaceutical subsidiary of Shilpa Medicare Limited, to make strides in the biosimilar market across Latin America. This strategic licensing agreement aims to broaden access to cost-effective treatments for patients in the region, enhancing the growing market for biosimilars.

This partnership is ideally structured. Under the terms, SteinCares will exclusively manage the registration, commercialization, and distribution of select biosimilars, while SBPL will leverage its expertise in product development and commercial manufacturing at its facility in Dharwad, India. With this collaboration, both companies are combining their strengths: SBPL’s capabilities in biologics development and manufacturing with SteinCares’ comprehensive regional platform.

“Partnering with Shilpa Biologicals presents an exciting opportunity to introduce innovative biosimilars to the Latin American market,” said Mitchell Waserstein, CEO of SteinCares. He emphasizes that this collaboration solidifies their leading role in the biosimilar arena, while also catering to global biopharmaceutical companies that wish to navigate Latin America's complex healthcare landscape. By integrating Shilpa's proven facilities for development with SteinCares' established market presence, they are paving the way for scalable healthcare solutions that will ultimately lead to expanded patient access to safe and effective treatments.

On the other side, Dr. Sridevi Khambhampaty, CEO of Shilpa Biologicals, remarked, “This agreement marks our entry into the Latin American market with the intent to enhance patient access to quality treatments. Our partnership with SteinCares is anticipated to generate value not just for our organizations, but critically, for the patients and healthcare systems who will benefit from our collective efforts.”

SteinCares has been a key player in expanding access to innovative therapies for over 45 years, covering 30 countries in Latin America. Their integrated platform is notable for pioneering effective biosimilar therapies, making healthcare more sustainable and accessible.

Meanwhile, Shilpa Biologicals operates with a unique hybrid Contract Development and Manufacturing Organization (CDMO) model, specializing in the development and production of formulations for areas such as immunology, oncology, and ophthalmics. This partnership is expected to enhance both firms' portfolio, optimizing the availability of biosimilars across key markets in Latin America.

As the collaboration unfolds, it emphasizes a commitment to establishing long-term licensing partnerships and solidifying a foundation for future collaborations in both Latin American and international markets. The first product expected from this agreement marks a pivotal entry into the region for Shilpa, thereby demonstrating the potential of international collaborative ventures in transforming healthcare access and treatment options.

Conclusion

Both SteinCares and Shilpa Biologicals reflect a significant evolution in the biopharmaceutical landscape of Latin America. As they move forward with their licensing agreement, expectations remain high for enhancing treatment accessibility and establishing a broader biosimilars footprint in a market ripe for innovative healthcare solutions. This partnership serves not only as a business strategy but a commitment to patient welfare and the advancement of healthcare in Latin America.