Shilpa Medicare Ltd announced on Tuesday, February 24, that its material subsidiary, Shilpa Biologicals Pvt. Ltd., has entered into a licensing agreement with SteinCares to commercialise a biosimilar across Latin America. According to reports from CNBC TV18, the agreement grants SteinCares exclusive rights to register, commercialise and distribute the biosimilar across Latin American markets, while Shilpa Biologicals will complete product development and undertake long-term commercial manufacturing from its facility in Dharwad, Karnataka.
The partnership marks Shilpa Biologicals' entry into the Latin American market and represents the first product under this strategic collaboration. As reported by CNBC TV18, the arrangement combines Shilpa's biologics development and manufacturing capabilities with SteinCares' regional commercial platform, which includes regulatory, market access and distribution expertise across more than 30 countries in Latin America and the Caribbean. Dr Sridevi Khambhampaty, CEO of Shilpa Biologicals, stated that through this licensing agreement, the company aims to broaden patient access to safe treatments across the region.
Shilpa Biologicals focuses on immunology, oncology and ophthalmics, and operates as a hybrid CDMO and pharmaceutical company, offering development, manufacturing and ready-to-license products. According to CNBC TV18, SteinCares specialises in the commercialisation of innovative medicines, biosimilars and complex generics across Latin America. Mitchell Waserstein, CEO of SteinCares, emphasised that by combining Shilpa's proven capabilities in biologics development and manufacturing with their local expertise, they are creating scalable healthcare opportunities and expanding access to innovative, cost-effective treatments across the region.
Shares of Shilpa Medicare Ltd were trading 1.22% down at ₹322.75 as of 10.58 am, as reported by CNBC TV18. The stock has gained 20.27% in the past month, indicating positive investor sentiment despite the recent decline. The licensing agreement reinforces the company's commitment to scalable, long-term global licensing partnerships and creates a strong platform for future collaborations across key international markets and their growing biosimilars portfolio.
