Aurobindo Pharma’s share price plunged and turned red on July 10 after its wholly-owned subsidiary CuraTeQ Biologics announced that it has entered into an exclusive license agreement with US-based BioFactura to commercialise BFI-751, an antibody used to treat multiple digestive and skin ailments. 

Aurobindo Pharma is a global pharmaceutical company located in Hyderabad, India, with 24 manufacturing and packaging facilities approved by leading agencies. 

BFI-751, a proposed biosimilar to Stelara (ustekinumab), is a recombinant monoclonal antibody that works by blocking interleukins IL-12 and IL-23 and is even used for treating Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis. 

Under the terms of the agreement, CuraTeQ Biologics will be granted exclusive license rights to commercialise BFI-751 in all major regulated markets, including the United States, Europe, the United Kingdom, Canada, Australia, and New Zealand, and any other emerging semi-regulated markets worldwide.

At 09:37 am, Aurobindo Pharma was trading at Rs 731.90 apiece, down by Rs 11.80, or 1.59% on the BSE. The share touched a 52-week high of Rs 765 on July 6, 2023, and a 52-week low of Rs 397.30 on February 3, 2023. 

Currently, the stock is trading 4.33 per cent below its 52-week high and 84.22% above its 52-week low.

Satakarni Makkapati, CEO of biologics, Vaccines and Peptides, Aurobindo Pharma, said, “BioFactura has demonstrated bio-equivalence of BFI-751 versus US and EU registered originator product Stelara in a three-arm Phase 1 study conducted in 200 plus healthy subjects. We are excited by the prospect of this Ustekinumab biosimilar advancing to Phase 3 clinical studies in time. Ustekinumab fits into our expanding immunology products portfolio very well, and we will use our presence across key markets to commercialise this product.”