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 biopharmaceutical facility in Johor, Malaysia.
Biocon SDN. BHD. has been awarded a MYR 300 mn (~Rs 460 Crore) contract to be serviced over a period of three years for supplying rh-Insulin cartridges and re-usable insulin pens under the Malaysian governments Off-Take Agreement (OTA) initiative.
Biocons rh-Insulin is Malaysias first locally manufactured biosimilar biologic product approved by the National Pharmaceutical Regulatory Authority (NPRA), Malaysia, for commercial sales in the country. Biocon will distribute insulins and insulin delivery devices through CCM Pharmaceuticals.
Biocon Chairperson & Managing Director Kiran Mazumdar-Shaw said: 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.
Biocon is one of the first Indian companies to join hands with the Malaysian Government to generate value for Biocon and the Malaysian biotechnology sector.