Under this strategic agreement, Orion Corporation will serve as the exclusive partner for the distribution, marketing, and sales of Shilpa's Recombinant Human Albumin in Europe. As part of the deal, Shilpa is entitled to receive development and regulatory milestone payments from Orion. Shilpa has been investing in the development of this novel product for approximately eight years, including the establishment of a large-scale fermentation facility designed to manufacture recombinant human albumin. This facility aims to meet the global demand for this life-saving drug. The collaboration with Orion marks a major milestone in Shilpa's expansion into the global biosimilar and biopharmaceutical markets, leveraging Orion's strong regional presence, regulatory expertise, and established commercial infrastructure. The firm stated that Orion Corporation is not a related party to the company, Shilpa Biocare (SBPL), or any of the promoter/promoter group/group companies. Recombinant Human Albumin is a key plasma protein used in various therapeutic applications and as a critical component in vaccine and biologics manufacturing. Shilpa Medicare's recombinant human albumin is developed using a robust non-human expression system, ensuring high safety, scalability, and virus-free production, effectively addressing key limitations associated with human-derived albumin. This partnership reinforces both companies' commitment to advancing biotechnology-driven therapies and improving patient access to safer, sustainable, and next-generation biologics. Madhav Bhutada, Managing Director, Shilpa Biocare, said, 'partnering with Orion is a significant step in bringing our innovative recombinant product to patients across Europe and is a testimonial of our developmental & manufacturing capabilities to bring recombinant human albumin to market. This alliance aligns with our mission to provide high-quality, affordable biologics globally, and we are confident this partnership will further accelerate our footprint in the regulated markets.' Satu Ahom'ki, EVP Generics and Consumer Health, Orion Corporation, said, 'We are pleased to strengthen our strategic partnership with Shilpa by collaborating on this novel product. Recombinant human albumin will strengthen our strategy and offering in value-add hospital generics, and we look forward to making it available across Europe.' Shilpa Medicare is a manufacturer of API, formulation, and development services. Shilpa Medicare (SML) started its operations as an API manufacturer way back in 1987 at Raichur, Karnataka, India. The company had reported a consolidated net profit of Rs 31.78 crore in Q3 FY25, which is significantly higher as compared with the PAT of Rs 4.58 crore posted in Q3 FY24. Revenue from operations for the third quarter was at Rs 319.32 crore, up 11.35% year on year. Powered by Capital Market - Live News |