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Shilpa Medicare arm signs exclusive biosimilar deal for Latin AmericaShilpa Biologicals, a Shilpa Medicare subsidiary, signed a licensing deal with SteinCares to commercialise a biosimilar in Latin America. SteinCares gets exclusive rights, while Shilpa handles development and manufacturing, marking its Latin American market entry.By Gareema Bangad  February 24, 2026, 11:31:50 AM IST (Published)2 Min ReadShilpa Medicare Ltd announced on Tuesday, February 24, that its material subsidiary, Shilpa Biologicals Pvt. Ltd., has entered into a licensing agreement with SteinCares to commercialise a biosimilar across Latin America.

In a press release filed with the exchanges, the company said the agreement grants SteinCares exclusive rights to register, commercialise and distribute the biosimilar across Latin American markets. Shilpa Biologicals will complete product development and undertake long-term commercial manufacturing from its facility in Dharwad, Karnataka.

The partnership marks Shilpa Biologicals’ entry into the Latin American market and represents the first product under this strategic collaboration.

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The companies said the arrangement combines Shilpa’s biologics development and manufacturing capabilities with SteinCares’ regional commercial platform, which includes regulatory, market access and distribution expertise across more than 30 countries in Latin America and the Caribbean.

Dr Sridevi Khambhampaty, CEO of Shilpa Biologicals, said, "Through this licensing agreement, we are entering Latin America and aim to broaden

patient access to safe treatments across the region."

"This collaboration reinforces our commitment to scalable, long-term global licensing partnerships and creates a strong platform for future collaborations across key international markets and our growing biosimilars portfolio," she added.

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Mitchell Waserstein, CEO of SteinCares, said the agreement reinforces the company's leadership in biosimilars. He added that by combining Shilpa’s "proven capabilities in biologics development and manufacturing" with their local expertise, "we are creating scalable healthcare opportunities and expanding access to innovative, cost-effective treatments across the region."

Shilpa Biologicals focuses on immunology, oncology and ophthalmics, and operates as a hybrid CDMO and pharmaceutical company, offering development, manufacturing and ready-to-license products.

SteinCares specialises in the commercialisation of innovative medicines, biosimilars and complex generics across Latin America.

Shares of Shilpa Medicare Ltd were trading 1.22% down at ₹322.75 as of 10.58 am. The stock has gained 20.27% in the past month.Continue ReadingTagsExpansionLatin Americashare market todayShilpa Medicare