Shilpa Medicare has expanded its partnership with Orion Corporation to co-develop and supply an intravenous Nivolumab biosimilar for the European market. The agreement leverages the loss of exclusivity of the originator drug to increase patient access to high-quality, EU-GMP-manufactured biosimilars across Europe, targeting a market opportunity of approximately USD4.1 billion.

Strategic Partnership With Orion Corporation

Shilpa Biologicals Private Limited, a wholly owned subsidiary of Shilpa Medicare, has entered into a co-development and supply agreement with Finland-based Orion Corporation. The collaboration focuses on the intravenous Nivolumab biosimilar, one of the world's most widely used cancer immunotherapies. Under the terms, Orion Corporation will hold the exclusive right to register, market, distribute and sell the product across Europe, acting as the Marketing Authorization holder in the territory.

Development And Supply Scope

Shilpa Biologicals will lead product development and serve as the exclusive long-term commercial manufacturer and supplier for the European market from its advanced biologics facility in Dharwad, India. The agreement combines Shilpa's manufacturing capabilities with Orion's commercial and regulatory expertise. Shilpa is entitled to receive from Orion certain development and regulatory milestone payments, in addition to supply revenue over the life of the partnership.

Market Opportunity In PD-1 Immunotherapy

Nivolumab is a blockbuster oncology drug belonging to the PD-1 immunotherapy class. In 2025, Nivolumab recorded sales of approximately USD4.1 billion in Europe, according to IQVIA/IMS data. This partnership aims to widen patient access to advanced immuno-oncology therapy while easing pressure on healthcare budgets. The deal follows the partners’ earlier collaboration to bring Shilpa’s Recombinant Human Albumin to Europe.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE790G01031/fe0d8df640ca4b8c.pdf

Shilpa Biologicals, a material subsidiary of Shilpa Medicare , has settled a commercial dispute with Sartorius Stedim India for Rs 9 Cr. The settlement agreement was executed on June 23, 2026, before the Hon'ble XI Addl. City Civil and Sessions Court, Commercial Court, Bengaluru, concluding legal proceedings in Commercial O.S. No. 153/2024.

Sartorius Stedim India had initially alleged a claim of Rs 20.13 Cr plus applicable interest. Following negotiations, the parties agreed to a reduced settlement amount of Rs 9 Cr, which was paid by Shilpa Biologicals. The company stated that the financial impact of this settlement is limited to the payment amount.

Details of the Settlement

The following table outlines the key particulars of the settlement and the judicial proceedings:

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.