Biocon Executive Chairperson Kiran Mazumdar Shaw’s husband John Shaw passed away on Monday morning in a private hospital, family sources said, the PTI reported. He was 73. Shaw was admitted to the hospital where he was undergoing treatment, they said.
Shaw was the former vice chairman of the Bengaluru-headquartered Biocon Limited.
According to the report, Shaw was an MA (Economics Honours) in History and Political Economy from the University of Glasgow in United Kingdom. He was also the former chairman of Madura Coats Limited and former finance and managing director of Coats Viyella Group.
The exact reason behind his death was not known. His cremation will be held at Wilson Gardens Crematorium on Monday.
According to the company website, John Shaw was the member of the board of directors since 1999 and was also a foreign promoter and on the advisory board of various Biocon group companies.
Apart from this, John was also the former chairman of Madura Coats and former finance and managing director of Coats Viyella Group.
Meanwhile, Biocon Biologics Ltd., a subsidiary of Biocon Ltd, a week ago announced that it has entered into a strategic out-licensing agreement with Japanese pharmaceuticals company Yoshindo Inc. for commercializing two of its pipeline biosimilar assets, bUstekinumab and bDenosumab, in the Japanese market.
Under the terms of this deal, Yoshindo gets exclusive commercialization rights in Japan for bUstekinumab and bDenosumab developed and manufactured by Biocon Biologics, for an addressable market opportunity of $700 million. Biocon Biologics will receive an upfront license fee as well as additional payments on the achievement of certain development milestones over the next few years. The financial terms of the agreement are confidential.
Ustekinumab, a biosimilar referencing Stelara, is a monoclonal antibody used to treat several autoimmune conditions, including psoriasis, Crohn’s disease, ulcerative colitis, plaque psoriasis and psoriatic arthritis. Denosumab, a biosimilar referencing Prolia, is a monoclonal antibody for the treatment of osteoporosis.