Biocon Awarded $68m Malaysian Contract to Supply Biosimilar Insulin and Pens

biocon

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.

This article is intended to provide general information about the subject matter. Professional legal advice should be sought about specific circumstances.

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Ufuoma is a Senior Editor and Director of Regulatory Policy at NLIPW. She assists clients in the protection of copyrights, trademarks and patents. She counsels clients regarding validity and infringement matters and has experience acting against the infringement of IP and addressing counterfeit issues. She holds a Masters degree (LL.M.) from Columbia Law School, New York and a law degree from the University of Nigeria (LL.B. Honors). She is admitted to practice law in Nigeria and in the State of New York. Ufuoma cut her teeth in the intellectual property practice groups of some of the largest law firms in Nigeria and has years of experience working with major non-profit organizations in New York. Email: uakpotaire@nlipw.com