 "Biocon Biologics")
Global biopharmaceutical company Biocon announced on Friday a partnership with Juno Pharmaceuticals, a specialty pharmaceutical firm based in Canada, for the commercialisation of Liraglutide, a drug-device combination intended for the treatment and management of Type 2 diabetes and obesity in the Canadian market.
Under the agreement's terms, Biocon will be responsible for obtaining regulatory approvals for Liraglutide and will subsequently manage the manufacturing and distribution of the product within Canada.
Siddharth Mittal, Chief Executive Officer and Managing Director of Biocon, said, "We are pleased to collaborate with Juno Pharmaceuticals for the commercialisation of this complex drug product in the Canadian market."
Mark Mantel, Chief Executive Officer of Juno Pharmaceuticals, commented, "Our alliance with Biocon represents a significant milestone in our pledge to offer Canadians high-quality, affordable medications. We are committed to ensuring access to more intricate medicines for our patients."
The total potential market for Liraglutide in Canada is estimated to be approximately US $100 million, based on IQVIA MAT Q2 2023 data.
Juno Pharmaceuticals specialises in producing high-value generic medications, complex formulations, biosimilars, and other medicines.
