The company has also received Drugs Controller General of India's (DCGI's) approval for the commercialisation of Alzumab-L, a new 100 mg/vial formulation of Itolizumab, for treating Cytokine Release Syndrome in moderate to severe Covid-19 patients. This would replace the need to buy four vials of the previous 25 mg formulation of the drug, increasing patient convenience.
While the biosimilars segment posted 11 per cent growth on a y-o-y basis, research and generics businesses reported a growth of 12 per cent and 8 per cent respectively when compared with the corresponding quarter of the previous financial year.
“We expect the generic formulations business to continue to drive growth, based on new launches in the US for products which are currently under regulatory review. We also plan to commercialise Remdesivir in India as part of our commitment towards providing treatment for Covid-19,” said Siddharth Mittal, CEO and Managing Director, Biocon.
In the biosimilars segment, Biocon’s Insulin Glargine was commercialised in the US by partner Mylan during the quarter, heralding its entry into the US insulins market.
“As a part of our commitment to enable universal access to affordable insulins in low- and middle-income countries we also rolled out our ‘Mission 10 cents’ in the Philippines. While we continue to see strong demand for our products globally, we are experiencing some operational challenges which have prevented us from achieving our full potential,” said Christiane Hamacher, CEO & Managing Director, Biocon Biologics.
“However, we are confident of addressing these, going forward, as a part of our commitment to expand access to life-saving, quality biosimilars including monoclonal antibodies and insulin analogs, for millions of patients across the globe,” she added.