The Bengaluru based Biopharmaceutical giant Biocon has bagged MYR 300 million (approximately Rs 460 cr) contract by Malaysia’s Ministry of Health (MoH) for supplying recombinant human insulin (rh-Insulin) formulations. Acoording to the contract, which is to be continued over a service period of three years, Biocon will manufacture its rh-insulin formulations at its huge scale biopharmaceutical manufacturing facility in Johor, Malaysia.
Biocon’s rh-insulin would be Malaysia’s first locally manufactured biosimilar biologic insulin product to be approved by the National Pharmaceutical Regulatory Authority (NPRA) of Malaysia, for commercial production & sales in the country.
The company’s minor concern, Biocon SDN BHD, will be providing rh-insulin cartridges and re-usable insulin pens under the Malaysian government’s Off-Take Agreement (OTA) initiative, which tends to embolden the local manufacturing facility for new pharmaceutical products thus lowering the country’s dependence on imports and also improving its export potential.
Biocon is going to distribute insulins and insulin based delivery devices through CCM Pharmaceuticals, which is Malayasia’s prominent local pharmaceutical manufacturer which has an widespread supply chain network to service primary healthcare hospitals and clinics across Malaysia.
Rh-insulin would be the first of its kind product from Biocon’s Malaysian facility, set up with an overall investment of MYR 1.1 billion. Earlier the company has also announced the regulatory filing with the European Medicines Agency (EMA) for its biosimilar insulin glargine endorsed at the Malaysian facility
Biocon Aquires Rs 460 cr Contract for rh-insulin in Malaysia
