MALAYSIA – The Malaysian government has awarded Biocon Biologics’ subsidiary a contract worth US$90 million (approximately Rs.688 crore) to supply of recombinant human (rh)-insulin brand, Insugen for the treatment of diabetes mellitus.
The contract is for three years, beginning April 29, 2022, and ending April 28, 2025, according to the revised letter of acceptance (LOA) from Malaysian Ministry of Health. The previous LOA was valid from December 17, 2021 to December 16, 2024.
Duopharma Biotech stated in a bourse filing on Monday (April 25) that DMktg and Biocon have acknowledged receipt and acceptance of the revised letter of acceptance and have submitted it to MoH. The government, DMktg, and Biocon will sign a binding contract.
Duopharma announced on December 17, 2021, that the government had accepted DMktg’s tender offer to supply the insulin product.
The Biocon subsidiary, Biocon Sdn. Bhd., will manufacture and supply its insulin range to its partner Duopharma Marketing Sdn Bhd (DMktg) as part of the agreement. DMktg is a subsidiary of Duopharma Biotech, a Malaysian pharmaceutical and biotech company.
The rh-Insulin formulations, Insugen-R, Insugen-N, and Insugen-30/70, are made at Biocon Sdn Bhd’s Johor facility and have been approved by Malaysia’s National Pharmaceutical Regulatory Authority (NPRA), according to the Malaysian health ministry.
Biocon Biologics, a division of Biocon Ltd, has established a Centre of Excellence (CoE) for insulins in Malaysia, with end-to-end capabilities to produce a diverse portfolio of regular, basal, and rapid insulins.
With the deal, Insugen will be available to patients at the Ministry of Health hospitals, district health offices and health clinics.
Susheel Umesh, Biocon Biologics’ Chief Commercial Officer (Emerging Markets), said in a statement, “This will enable us to serve over 400,000 people with diabetes using recombinant human insulin, assisting the government in its journey towards equitable access to diabetes care.”
Biocon Biologics, through its scientifically validated human insulin and analog products manufactured in Malaysia, provides patients with affordable access to these life-saving therapies in many developed markets such as the United States, the European Union, and Australia, as well as many emerging markets in the Middle East and Latin America.
Biocon Biologics has provided over 2.75 billion doses of rh-Insulin to patients worldwide to date. The contract is expected to contribute positively to the future earnings and earnings per share (EPS) of Duopharma Biotech Group for the financial years ending Dec 31, 2022, 2023, 2024 and 2025.