New Delhi: Biotechnology major Biocon these days same it’s received approval from drug controller DCGI to plug its product `Itolizumab`, employed in the treatment of skin disorder.

“The company has received market authorisation from the Drug Controller General of India (DCGI) for its novel biological Itolizumab, opposed CD6 molecule, for the treatment of chronic plaque skin disorder,” Biocon same in an exceedingly statement.

This approval paves approach for the launch of the drug later in 2013 in India, it added.

Biocon CMD Kiran Mazumdar Shaw said: “We square measure terribly excited to receive this selling authorisation for Itolizumab from DCGI which is able to alter Biocon to introduce this novel, 1st in school biological for the treatment of skin disorder patients in India.”

She further that the approval paves the approach for the corporate to increase clinical development for alternative indications like arthritis (RA), degenerative disorder (MS) and skin problem.

“We conjointly shall file a North American nation IND (Investigational New Drug) shortly to alter North American nation to begin a world clinical development set up,” Shaw further.

The global skin disorder market size is calculable to cross USD eight billion by 2016.

A novel biological indicated for the treatment of Moderate- to-Severe skin disorder, AlzumabTM are marketed by Biocon`s therapy division, the corporate same.
The product would be factory-made associate degreed developed as an infusion drug at Biocon`s biopharma producing facility at Biocon Park, Bangalore, it added.

Biocon certificate was mercantilism at Rs 295.90 on the BSE in late afternoon trade, down 1.94 per cent from its previous shut.