Biocon and Biomm sign a license agreement for the Brazilian market for the diabetic medication semaglutide

Biocon and Biomm sign a license agreement for the Brazilian market for the diabetic medication semaglutide

As per the deal, Biocon will be in charge of the diabetes management drug's research, production, and supply, while Biomm will be in charge of getting it approved by regulators and launching it on the Brazilian market.

The cooperation is strategically important for Biocon's CEO and MD, Siddharth Mittal, to extend their worldwide reach and make high-quality diabetic therapies more accessible.

The multinational biopharmaceutical business Biocon, situated in Bengaluru,

said on April 17 that it has signed an exclusive license and supply contract for the commercialization of semaglutide (gOzempic), a medication product used to help individuals with type-2 diabetes, with Biomm S.A., a specialist pharmaceutical business in Brazil.

According to a stock exchange filing, the agreement states that Biocon, led by Kiran Mazumdar Shaw, would be in charge of the medicine product's research, manufacture, and supply, and that Biomm will be in charge of securing regulatory clearance and launching it on the Brazilian market.

The first and only biotechnology-focused business in Brazil, Biomm aims to provide access to cutting-edge medicines while offering patients with chronic illnesses high-quality healthcare. Biomm is a Brazilian company that develops, produces, and sells complicated biotech and biosimilar medicinal products out of its Nova Lima plant.

The cooperation is strategically important for Biocon Ltd.'s CEO and MD, Siddharth Mittal, to grow their worldwide reach and provide people access to high-quality diabetic therapies. "Our collaboration with Biomm represents a significant advancement in our approach to broaden our worldwide presence for Peptides beyond the United States and Europe," Mittal said. This aligns with our growth goal of introducing a range of sophisticated GLP-1 drug-device combo solutions to the market. We are optimistic that our partnership with Biomm will provide Brazilian patients,

who with diabetes, much-needed access to cutting-edge, superior treatment alternatives to aid in improved disease management.

"According to the Diabetes Atlas of the International Diabetes Federation (IDF), Brazil is the fifth country in the world alongside the highest incidence of diabetes, alongside 16.8 million adults in the age group of 20 to 79 years suffering the disease and an estimated 21.5 million cases by 2030," stated Heraldo Marchezini, CEO of Biomm. Therefore, in order to improve people's quality of life and increase the population's access to cutting-edge therapies for this illness, we have given strategic collaborations top priority.