Biocon Limited Signs Licensing Agreement for Diabetes Drug in Brazil

Biocon Limited Signs Licensing Agreement for Diabetes Drug in Brazil

Biocon Limited and Biomm SA have entered into an exclusive licensing and supply agreement to bring the diabetes drug Semaglutide to the Brazilian market. Under this agreement, Biocon will be responsible for the development, manufacturing, and supply of the drug products, while Biomm will take charge of obtaining regulatory approval and managing the commercialization process in Brazil. This partnership aims to address the significant market potential for Semaglutide in Brazil, estimated at around $580 million based on data from IQVIA Moving Annual Total for the fourth quarter of 2023.

Siddharth Mittal, CEO and managing director of Biocon Ltd, expressed that this collaboration with Biomm is a crucial step in expanding Biocon's global reach beyond the USA and Europe for Peptides. The goal is aligned with Biocon's strategy of introducing a range of complex GLP-1 drug-device combination products to the market. This joint effort with Biomm is expected to offer advanced and high-quality treatment options to diabetic patients in Brazil, enabling them to better manage their condition. On the other hand, Biomm focuses on providing healthcare solutions to individuals with chronic conditions by leveraging the latest technologies and treatments available. The company is dedicated to developing, manufacturing, and commercializing biotech and biosimilar drug products at its manufacturing facility located in Nova Lima.

Highlighting the diabetes burden in Brazil, Biomm stated that the country ranks fifth globally in terms of diabetes prevalence, with around 16.8 million adults aged 20 to 79 currently affected by the disease. Furthermore, projections indicate that this figure is expected to rise to 21.5 million by 2030, as per the International Diabetes Federation Diabetes Atlas. In response to these alarming statistics, Heraldo Marchezini, CEO of Biomm, emphasized the company's strategic focus on forming partnerships to expand access to advanced diabetes treatments and enhance the quality of life for individuals affected by the disease.