Biocon to Supply Insulin to MalaysiaBy
Biocon, a Bangalore, India-headquartered biopharmaceuticals company, has been awarded a three-year, Malaysia ringgit 300 million ($68 million) contract by the Ministry of Health (MoH) in Malaysia for supplying recombinant human insulin (rh-insulin) formulations manufactured at Biocon’s large-scale biopharmaceutical facility in Johor, Malaysia.
Biocon’s rh-Insulin is a locally manufactured biosimilar biologic product in Malaysia that has been approved by the country’s National Pharmaceutical Regulatory Authority for commercial sales in Malaysia. Biocon will supply rh-insulin cartridges and re-usable insulin pens under the Malaysian government’s Off-Take Agreement (OTA) initiative, which seeks to encourage local manufacturing of new pharmaceutical products. The contract is extendable for additional two years subject to approval by the Government of Malaysia.
Biocon will distribute insulins and insulin delivery devices through CCM Pharmaceuticals, a Kuala Lumpur, Malaysia-based company that manufactures, distributes, imports and exports pharmaceutical products and medicines, which has a supply chain network to service primary healthcare clinics and hospitals across Malaysia.