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Biocon Strengthened Its Business Operations: Signed Agreement With Biomm S.A.

22 April 20243 mins read by Angel One
Biocon Limited inked an exclusive licensing and supply agreement with Biomm S.A. for generic Ozempic (Semaglutide) commercialisation in Brazil.
Biocon Strengthened Its Business Operations: Signed Agreement With Biomm S.A.
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Biocon Limited, a leading global biopharmaceutical company, recently announced a significant step in expanding access to its innovative diabetes treatment. Biocon signed an exclusive licensing and supply agreement with Biomm S.A., a prominent speciality pharmaceutical company in Brazil. This strategic partnership paves the way for the commercialisation of Semaglutide (gOzempic) in the Brazilian market, a drug specifically designed to improve glycemic control in adults with type-2 diabetes. The company further added that the total addressable market opportunity of Semaglutide in Brazil is ~US $580 million as per the IQVIA MAT Q4 2023

Under the terms of the agreement, Biocon will leverage its expertise to develop, manufacture, and supply the high-quality drug product Semaglutide. Biomm, on the other hand, will take the lead in navigating the regulatory landscape and securing the necessary approvals for commercialisation within Brazil. This division of responsibilities ensures a streamlined and efficient process, bringing Semaglutide to patients in Brazil as quickly as possible.

The partnership is immensely significant for both parties. Biocon has gained a strong foothold in the Brazilian pharmaceutical market, a region with a growing demand for innovative diabetes treatments. Biomm, on the other hand, benefits from Biocon’s established track record in developing and manufacturing complex biopharmaceutical products.

Biomm’s unique position as Brazil’s first and only biotechnology-focused company further strengthens the collaboration. Their commitment to providing high-quality healthcare solutions and ensuring access to cutting-edge treatments for patients with chronic conditions aligns perfectly with Biocon’s mission. Biomm’s state-of-the-art production facility in Nova Lima offers the ideal infrastructure for successfully commercialising Semaglutide in Brazil.

“Our partnership with Biomm marks another important step forward in our strategy to expand our global footprint beyond the U.S. and Europe for Peptides. This is also in line with our growth strategy of bringing to market a portfolio of complex GLP-1 drug-device combination products. We are confident that our collaboration with Biomm will provide patients in Brazil who are living with diabetes much-needed access to advanced, high-quality treatment options to help them manage the disease better,” said Siddharth Mittal, Chief Executive Officer and Managing Director of Biocon Ltd

“Brazil is the fifth country in the world with the highest incidence of diabetes, having 16.8 million adults in the age group of 20 to 79 years with the disease, and an estimated 21.5 million cases by 2030, according to the Diabetes Atlas of the International Diabetes Federation (IDF). We have, therefore, prioritised strategic partnerships to expand the population’s access to advanced treatments for this disease and enhance the quality of life for people,” said Heraldo Marchezini, Chief Executive Officer of Biomm.

About Biocon Limited

Biocon Limited is an innovation-led, global biopharmaceutical company committed to enhancing affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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