Biocon Ltd announced that the Ministry of Health (MoH), Malaysia, has awarded a three year contract, to its subsidiary, Biocon SDN. BHD., Malaysia, for supplying recombinant human insulin (rh-Insulin) formulations manufactured at its large scale biopharmaceutical facility in Johor, Malaysia. 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 commercialization milestone of Biocon's first overseas facility in Malaysia.
Biocon SDN. BHD. has been awarded a MYR 300 million (~Rs 460 Cr^) 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, which seeks to encourage local manufacturing of new pharmaceutical products thus lowering the country's reliance on imports and also enhancing the exports potential. 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 leading local pharmaceutical player which has an extensive supply chain network to service primary healthcare clinics and hospitals across Malaysia. Biocon is extremely proud to enable the government expand access to affordable insulin therapy for people with diabetes in Malaysia.
Biocon Chairperson & Managing Director Kiran Mazumdar-Shaw said: "We are pleased to support the Ministry of Health of Malaysia in providing high quality, affordable, rh-insulin for people with diabetes in Malaysia. It is a matter of pride that this is a ‘Made in Malaysia' insulin product manufactured by Biocon Sdn. Bhd. at the BioXcell Biotech Park in Nusajaya, Johor. We expect our Malaysian facility to cater to the growing needs for affordable insulins across the globe."