Biocon Partners with Medix for Weight Management Solution

On May 13, 2024, Biocon Ltd informed the exchanges that it had signed a semi-exclusive distribution and supply agreement with Medix, a Mexico-based speciality pharmaceutical company. The agreement is to commercialise its vertically integrated drug product, Liraglutide (gSaxenda), used to treat chronic weight management.

The company stated that, as per the terms of this agreement, it will obtain regulatory approval to manufacture and supply the drug product, and Medix will be responsible for its commercialisation in the Mexican market.

For more than 70 years, the Mexico-based Medix has been dedicated to developing solutions to combat the prevalent issues of overweight and obesity, which afflict 70% of the population, aiming to enhance their quality of life.

As per the IQVIA MAT Q4 2023, the total addressable market size of Liraglutide for obesity indication in Mexico is approximately US $37 million.

Commenting on this agreement, the Chief Executive Officer and Managing Director of Biocon Ltd, Siddharth Mittal, said, “After being the first Company to obtain approval for gLiraglutide in an ICH country, we are pleased to collaborate with Medix to bring our vertically integrated gSaxenda to Mexico. The collaboration will enable patients in the region who are dealing with obesity to get affordable access to our product and better manage the disease. Our efforts will be focused on working with Medix to enable the commercialisation of this product expeditiously.”

The Chief Executive Officer of Medix, Carlos Abelleyra, said, “According to the WHO, Mexico is the 2nd country with the highest prevalence of overweight and obesity worldwide. At Medix, we continue to innovate with solutions to treat the burden of the disease and its negative impact on the quality of life of people living with it. Our partnership with Biocon will bring quality and affordability into the pharmacological options for the physician, which supports our vision.”

In March 2024, Biocon Ltd got approval for a diabetes drug, Liraglutide, in the United Kingdom. This was a significant milestone for Biocon, as it is the first company to get approval for diabetes drug, Liraglutide in the United Kingdom.

About Biocon Ltd

Biocon manufactures biotechnology products and research services. The company has developed and commercialised biosimilars, novel biologics and complex small-molecule APIs in India and various primary markets worldwide. It also develops generic formulations in the US and Europe.

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