Biocon Biologics Ltd and Viatris Inc confirm listing of Semglee injection by Prime Therapeutics

Biocon Biologics Limited (BBL), a subsidiary of Biocon Ltd., and its partner Viatris Inc. are proud to confirm that Prime Therapeutics, a leading pharmacy benefit manager (PBM) in the US, serving nearly 33 million members, will list Semglee® (insulin glargine-yfgn) injection, a branded product, and Insulin Glargine (insulin glargine-yfgn) Injection, an unbranded product, as preferred insulin over the Lantus® brand on its national formularies. Broad coverage of the products, starting January 1, 2022, will help ensure that millions of patients in the Prime Therapeutics network who need insulin receive the full benefits of and access to high-quality treatment with lower or consistent out-ofpocket costs. Interchangeability allows for substitution for the reference product at the pharmacy counter.

This decision by Prime Therapeutics follows the U.S. Food and Drug Administration's (FDA) approval of the first-ever interchangeable biosimilar through the interchangeable pathway. As part of its commitment to patients, Biocon Biologics' partner Viatris will introduce the two (branded and unbranded) products, both of which will be available in pen and vial presentations and are interchangeable for the reference brand, Lantus®. Biocon Biologics and Viatris co-developed the products, and together the companies are committed to improving patients' access to sustainable, high-quality and affordable healthcare.

Semglee® (insulin glargine-yfgn) injection and Insulin Glargine (insulin glargine-yfgn) Injection will be available before the end of the year, and further details related to Viatris' access programs, which aim to ensure that as many patients as possible will benefit from the product, will be available at that time. Biocon Biologics and Viatris together are committed to ensuring that this historic interchangeable biosimilar insulin can reach as many patients as possible regardless of financial circumstances, insurance or channel.

Shares of Biocon Limited was last trading in BSE at Rs. 348.75 as compared to the previous close of Rs. 348.30. The total number of shares traded during the day was 11823 in over 508 trades.

The stock hit an intraday high of Rs. 352.15 and intraday low of 347.75. The net turnover during the day was Rs. 4135820.00.

Source : Equity Bulls

Keywords

BioconLimited INE376G01013 BIOCONBiologics Semglee PharmacyBenefitManager Viatris