Indian pharmaceutical company, Biocon has been awarded a three-year contract from the Ministry of Health in Malaysia to supply recombinant human insulin formulations.
The drug, manufactured by Biocon is the country’s first locally manufactured biosimilar biologic product. Biocon is expected to net about $68m for the supply of its rh-insulin and pen device.
Rh-insulin is the first product Biocon manufacted at its large scale biopharmaceutical facility in Johor, Malaysia after receiving regulatory approval last year.
Economic Times reports that in a BSE filing Biocon confirmed that its subsidary, Biocon SDN. BHD., was been awarded “a MYR 300 million contract to be serviced over a period of three years for supplying rh-insulin cartridges and re-usable insulin pens under the Malaysian government’s Off-Take Agreement (OTA) initiative”.
“Biocon’s rh-Insulin is Malaysia’s first locally manufactured biosimilar biologic product approved by the National Pharmaceutical Regulatory Authority (NPRA), Malaysia, for commercial sales in the country. This marks the commercialisation milestone of Biocon’s first overseas facility in Malaysia”, the company said in the BSE filing.
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