 "Biocon, Biocon logo")
Biocon Limited has signed an exclusive licensing and supply agreement that will allow Brazil’s Biomm SA to commercialise the India company’s drug Semaglutide (gOzempic) to control type-2 diabetes in adults.
Biocon will undertake the development, manufacturing, and supply of drug products and Biomm will be responsible for obtaining regulatory approval and commercialisation in the Brazilian market, according to the agreement between the two companies. The addressable market for Semaglutide in Brazil stands at around $580 million, based on IQVIA Moving Annual Total for the fourth quarter of 2023.
“Our partnership with Biomm marks another important step forward in our strategy to expand our global footprint beyond the United States and Europe for Peptides. This is also in line with our growth strategy of bringing to market a portfolio of complex, GLP-1 drug-device combination products. We are confident that our collaboration with Biomm will provide patients in Brazil, who are living with diabetes, much-needed access to advanced, high-quality treatment options to help them manage the disease better,” said Siddharth Mittal, chief executive officer (CEO) and managing director of Biocon Ltd.
Biomm provides healthcare to patients with chronic conditions, helping them with the latest technologies and treatments. The company focuses on developing, manufacturing, and commercialising complex biotech and biosimilar drug products at a production facility in Nova Lima.
Biomm said that Brazil ranks fifth globally in diabetes prevalence, with 16.8 million adults aged 20 to 79 affected by the disease. The figure is projected to rise to 21.5 million by 2030, it said citing the International Diabetes Federation Diabetes Atlas.
“We have, therefore, prioritised strategic partnerships to expand the population’s access to advanced treatments for this disease and enhance the quality of life for people,” said Heraldo Marchezini, CEO of Biomm.
