Biocon shares jump over 2% on securing 10-year Pertuzumab supply contract in Brazil; key details to know

At around 11:38 AM, the stock was trading 1.60% higher at ₹397.65 per equity share.

The scrip has lost 1% in the past week and 7% over the month. However, on a year-to-date (YTD) basis, it has risen more than 2%.

While the shares hit a 52-week high of ₹447.15 per unit on July 16, 2026, they touched a year’s low of ₹337.05 on September 30, 2026.

According to a regulatory filing, the company signed a partnership agreement with Bahiafarma and Bionovis for Pertuzumab in Brazil.

As per Biocon, the partnership marks an “important milestone” in advancing production and commercialisation of the HER2-positive breast cancer therapy under Brazil’s Productive Development Partnership (PDP) program.

Pertuzumab is a monoclonal antibody used in the treatment of HER2-positive breast cancer. Currently, the product is not manufactured locally in Brazil and is a significant expenditure for the country's Unified Health System (SUS).

The consortium of Biocon, Bahiafarma and Bionovis received a 100% allocation under Brazil's 10-year PDP program for Pertuzumab, the filing read.

The PDP provides the consortium exclusive access to Brazil’s public healthcare market, which accounts for approximately 70% of the country’s demand for Pertuzumab, the firm said, adding that it also supports the long-term adoption of Biocon’s product within Brazil’s public oncology network.

Biocon will receive milestone payments and a share of revenues generated from the Brazil PDP opportunity over a 10-year period.

As part of the PDP framework, the product will undergo phased localisation in Brazil in the mid to long term.

Commenting on the development, Shreehas Tambe, CEO & Managing Director, Biocon, said: “Brazil is an important country for Biocon, and our journey here reflects the transformative potential of strong partnerships in building local capabilities and expanding access to high-quality, affordable medicines. This long-term supply contract for Pertuzumab marks a significant milestone in this journey, enabling us to reach more patients living with HER2-positive breast cancer and address an important healthcare need at scale.”

He added that Biocon, in partnership with Bahiafarma and Bionovis, is bringing together science, innovation, manufacturing excellence and local expertise to create a more sustainable pathway for access to this important cancer therapy.

“Together, we are not only supporting better patient outcomes but also helping build a stronger, more resilient healthcare ecosystem in Brazil,” Tambe stated.

Bahiafarma is a public pharmaceutical laboratory of the State of Bahia, Brazil, focused on pharmaceutical research, technological development, innovation and the production and supply of medicines and other health products, particularly for Brazil’s SUS.

Bionovis is a Brazilian biotechnology company focused on developing, manufacturing and commercialising complex biological medicines and biosimilars, with a strong emphasis on technology transfer, local biopharmaceutical manufacturing and expanding access to advanced therapies in Brazil.

Biocon has a total market capitalisation of ₹65,089.98 crore as of September 8, 2026, according to data on the NSE.