Brazil-India Biotech Collaborations: Inking Deals for Medical and Economic Growth

Key stakeholders from Brazil and India have signed significant memoranda of understanding to boost collaboration in the fields of medicine development and iron ore processing. The agreements include initiatives for developing a breast cancer drug and blending iron ore at a special economic zone, with investments amounting to USD 500 million.

In a significant development at the Ficci's India-Brazil Business Forum, major players from Brazil and India, including BahiaFarma, Biocon Biologics Ltd, and Bionovis, inked a memorandum of understanding (MoU) for developing a new breast cancer medicine. The accord, witnessed by Brazilian President Luiz Inacio Lula da Silva and Commerce and Industry Minister Piyush Goyal, targets the creation of Pertuzumab, a drug indicated for HER-2 metastatic breast cancer.

Additionally, NMDC Ltd, Vale SA, and Adani Gangavaram Port Ltd signed an MoU to enhance cooperation on iron ore processing. The agreement, valued at around USD 500 million, aims to set up a facility under a Special Economic Zone (SEZ) regime at Gangavaram Port. This project will involve sourcing low and high-grade ores, managing port infrastructure, and meeting technical criteria for production.

In another significant pact, Farmanguinhos/Fiocruz and Biocon Pharma Ltd agreed to collaborate on research and development in strategic pharmaceutical ingredients, focusing on rare diseases, oncology, and immunosuppressants. This partnership promises co-development of medicinal components and knowledge exchange, promising a strong future for Brazil and India's public health systems. These agreements come alongside a trade cooperation pact between ApexBrasil and FICCI, aimed at enhancing bilateral trade relations and investment.

(With inputs from agencies.)