Biocon Pharma and DKSH Collaborate to commercialize seven generic formulations in South East Asia markets

Biocon Ltd (BSE code: 532523, NSE: BIOCON), an innovation-led global biopharmaceutical company, and DKSH, a leading market expansion services provider with a focus on Asia, today announced that Biocon's subsidiary, Biocon Pharma Limited and DKSH Business Unit Healthcare, have signed an agreement under which DKSH will sell and distribute seven of Biocon Pharma's generic formulations in Singapore and Thailand.

Under the terms of the agreement, DKSH will gain an exclusive license to register and commercialize these seven generic formulations from various therapeutic areas like diabetology, cardiology, oncology and immunology, which will be sold under Biocon's brand in Singapore and Thailand. DKSH will manage marketing and sales as well as logistics for Biocon Pharma, helping drive sales growth through its capabilities and strengths in the medical and pharmacy channels.

This development is in line with Biocon's strategy for expansion of its generic formulations business through licensing of its drug products in multiple markets. Thailand and Singapore are the two large markets in the South East Asia region.

Siddharth Mittal, CEO & Managing Director, Biocon, said: "We are happy to partner with DKSH to commercialize Biocon's generic formulations pipeline in key South East Asian markets of Singapore and Thailand. This collaboration will enable us to address the growing patient needs for affordable access to high-quality generics for chronic diseases and expand our commercial footprint in this region. Our generic formulations pipeline comprises of difficult-to-make, complex molecules and leverages our strong track record of quality and reliability of supplies to our patients and customers."

Bijay Singh, Global Head of Business Unit Healthcare, DKSH, said: "DKSH helps Asian patients get reliable and efficient access to the best healthcare possible, with an emphasis on quality and compliance, leveraging technology wherever possible. Together with Biocon Pharma, we can help a lot of patients in Asia who require advanced therapies for chronic diseases. We are delighted to provide full agency services to Biocon Pharma. We will manage marketing and sales as well as logistics for Biocon's products in several therapeutic areas, such as cardiology, diabetes, immunology and oncology in Singapore and Thailand. With a broad reach across our medical channel in Asia, we are committed to driving growth for Biocon Pharma and improving access to healthcare products for all."

Biocon's Generic Formulations business is built on the back of company's strong portfolio of complex and differentiated APIs. Through forward integration into dosage forms, the company seeks to provide a safe, efficacious and continuous supply of highquality affordable drugs to address patient needs in diverse markets. Biocon has successfully commercialized a few products under its own label in the US.

Shares of BIOCON LTD. was last trading in BSE at Rs.381.5 as compared to the previous close of Rs. 393.65. The total number of shares traded during the day was 198077 in over 3361 trades.

The stock hit an intraday high of Rs. 397.2 and intraday low of 380.15. The net turnover during the day was Rs. 76745649.

Source : Equity Bulls

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