Shilpa Medicare Seals Major LatAm Biosimilar Deal

Shilpa Medicare said today that its subsidiary, Shilpa Biologicals, has entered into a strategic licensing agreement with SteinCares to commercialize a biosimilar across Latin America, strengthening its global biologics footprint.

Under the agreement, SteinCares will hold exclusive rights to register, commercialize, and distribute the biosimilar across the region. Meanwhile, Shilpa Biologicals will complete product development and undertake long-term commercial manufacturing from its facility in Dharwad, India. The partnership is expected to accelerate access to advanced therapies across key Latin American markets.

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SteinCares is a leading specialty pharmaceutical company focused on expanding patient access to innovative and cost-effective treatments throughout Latin America. Shilpa Biologicals, a fully integrated biopharmaceutical company, focuses on immunology, oncology, and ophthalmics. Operating as a hybrid CDMO and pharma player, it offers development and manufacturing services along with ready-to-license novel formulations.

The collaboration combines Shilpa Biologicals’ strength in biologics development and high-quality manufacturing with SteinCares’ strong regional regulatory expertise, market access network, and deep understanding of healthcare systems in Latin America. The biosimilar partnership is seen as a strategic move to widen reach in emerging markets.

Shilpa Medicare manufactures APIs, formulations, and provides development services. Financially, the company reported a 40.28% jump in consolidated net profit to Rs 44.58 crore on a 28.32% rise in revenue to Rs 409.73 crore in Q3 FY26 compared to Q3 FY25.