Mumbai, June 30 -- The partnership covers an intravenous (IV) nivolumab biosimilar for the European market.

Under the agreement, Shilpa Biologicals will develop, manufacture and exclusively supply the biosimilar from its biologics facility in Dharwad, Karnataka. Orion will exclusively register, market, distribute and sell the product across Europe.

Shilpa will receive development and regulatory milestone payments from Orion. It will also earn long-term supply revenue under the partnership. The financial terms were not disclosed.

The agreement builds on the companies' existing partnership for Recombinant Human Albumin in Europe.

Nivolumab is one of the world's most widely used cancer immunotherapies. The drug generated sales of about $...