Biocon rose 1.22% to Rs 386.15 after the company's subsidiary collaborated with DKSH Business Unit Healthcare to commercialize seven generic formulations in South East Asia markets.
Biocon's subsidiary, Biocon Pharma and DKSH Business Unit Healthcare, have signed an agreement under which DKSH will sell and distribute seven of Biocon Pharma's generic formulations in Singapore and Thailand.Under the terms of the agreement, DKSH will gain an exclusive license to register and commercialize these seven generic formulations from various therapeutic areas like diabetology, cardiology, oncology and immunology, which will be sold under Biocon's brand in Singapore and Thailand. DKSH will manage marketing and sales as well as logistics for Biocon Pharma, helping drive sales growth through its capabilities and strengths in the medical and pharmacy channels.
This development is in line with Biocon's strategy for expansion of its generic formulations business through licensing of its drug products in multiple markets. Thailand and Singapore are the two large markets in the South East Asia region.
DKSH is the leading market expansion services provider with a focus on Asia. The group helps companies to grow across the business units healthcare, consumer goods, performance materials and technology.
Siddharth Mittal, CEO & managing director, Biocon, said: "We are happy to partner with DKSH to commercialize Biocon's generic formulations pipeline in key South East Asian markets of Singapore and Thailand."
Biocon is a fully integrated, innovation-led global biopharmaceuticals company.
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