Biocon and Biomm ink exclusive deal to bring Semaglutide to Brazil
Biocon Limited (BSE code: 532523, NSE: BIOCON), a leader in global biopharmaceutical innovations, has announced a pivotal licensing and supply agreement with Brazil’s Biomm S.A., a specialty pharmaceutical company, to commercialize Semaglutide, a drug aimed at enhancing glycemic control in adults with type-2 diabetes. This exclusive partnership allows Biocon to handle the development, manufacturing, and supply of Semaglutide, while Biomm will oversee its regulatory approval and commercialization in Brazil.
The collaboration between Biocon and Biomm represents a significant step in Biocon’s strategy to expand its global presence beyond traditional markets such as the U.S. and Europe. According to Siddharth Mittal, CEO and Managing Director of Biocon Ltd, this partnership aligns with Biocon’s growth ambitions to introduce a series 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,” Mittal remarked.
Biomm, noted for being Brazil’s first and only biotechnology-focused company, is dedicated to providing high-quality healthcare solutions for chronic conditions. The company’s state-of-the-art production facility in Nova Lima is set to play a crucial role in the local manufacturing and commercialization of Semaglutide.
Heraldo Marchezini, CEO of Biomm, highlighted the urgency of addressing diabetes in Brazil, the fifth-highest country in terms of diabetes prevalence worldwide. “Brazil has 16.8 million adults aged 20 to 79 years living with diabetes, with projections estimating up to 21.5 million cases by 2030,” Marchezini noted, citing data from the International Diabetes Federation (IDF). “Our priority is to expand access to advanced treatments for this disease and enhance the quality of life for people.”
The partnership is strategically positioned to tap into a significant market, with the total addressable market opportunity for Semaglutide in Brazil estimated at approximately US $580 million, according to recent figures from IQVIA MAT Q4 2023. This collaboration not only aims to bring advanced diabetic care to Brazilian patients but also signifies a major advancement in the treatment and management of diabetes through innovative drug solutions.
In conclusion, this collaboration between Biocon Limited and Biomm S.A. underscores a significant advancement in diabetes treatment in Brazil. By leveraging Biocon’s expertise in drug development and Biomm’s local market insights and regulatory capabilities, this partnership is poised to significantly improve the management of diabetes in Brazil, offering high-quality, innovative care solutions to a large and growing number of patients.