Biocon Biologics and Viatris announce Launch of Interchangeable SEMGLEE® Injection and Insulin Glargine Injection

Biocon Biologics Ltd., a subsidiary of Biocon Ltd., and Viatris Inc. (NASDAQ: VTRS) today announced the U.S. launch of interchangeable biosimilars SEMGLEE® (insulin glargineyfgn) injection, a branded product, and Insulin Glargine (insulin glargine-yfgn) injection, an unbranded product, to help control high blood sugar in adult and pediatric patients with type 1 diabetes and adults with type 2 diabetes. Both biosimilar products are available in vial and prefilled pen presentations and are interchangeable for the reference brand, LANTUS® (insulin glargine), allowing for substitution at the pharmacy counter.

Shreehas Tambe, Deputy CEO, Biocon Biologics said: "At Biocon Biologics we are committed to expanding access to high-quality, affordable biologics to patients worldwide. The launch of our interchangeable biosimilar insulin glargine in the U.S. by our partner Viatris is in line with our aspiration to provide our biosimilar insulins to 'one in five' insulin dependent people with diabetes, globally. This is indeed a landmark event and along with the recent formulary listings, we believe it will allow us to improve accessibility, availability and adoption of biosimilars in the U.S. for the benefit of patients and the overall healthcare system."

Viatris Head of North America Jose Cotarelo said: "Viatris has a long-standing commitment to improving patient access to sustainable, quality and more affordable healthcare. We are extremely proud to stay true to that promise by bringing to millions of people with diabetes these interchangeable insulin biosimilar treatment options. We are pleased to also offer a broad range of options to help patients, which are intended to maximize access to these important medicines, regardless of financial circumstances, insurance or channel."

SEMGLEE (insulin glargine-yfgn) and Insulin Glargine (insulin glargine-yfgn), co-developed by Biocon Biologics and Viatris, are now available in the U.S. market. The currently marketed non-interchangeable SEMGLEE (insulin glargine) is anticipated to be phased out by the end of the 2021 calendar year.

To further expand access to insulins, Viatris has established a range of options to help patients, including:

• Patient Assistance Program, which may provide free medicine to eligible patients with demonstrated financial need.
• Copay Program offered for eligible commercially-insured patients, which may help reduce out-of-pocket expenses on prescriptions to as little as $0 per 30-day supply.
• Voucher for new patients to receive five (5) free 3 mL pens or two (2) free 10 mL vials.
• - Cash-Pay Programs to reduce out-of-pocket costs when paying at the pharmacy counter.
• - Medicare Part D Senior Savings Model Insulin Medicare Savings Program, with membership beginning in 2022, which limits patient out-of-pocket costs during all phases of coverage (deductible, initial coverage and coverage gap) to no more than $35 for a month's supply.

Shares of Biocon Limited was last trading in BSE at Rs. 369.40 as compared to the previous close of Rs. 361.70. The total number of shares traded during the day was 386761 in over 3053 trades.

The stock hit an intraday high of Rs. 370.50 and intraday low of 360.00. The net turnover during the day was Rs. 141798230.00.

Source : Equity Bulls

Keywords

BioconLimited INE376G01013 BIOCON Biotechnology BioconBiologics Viatris Biosimilars SEMGLEE Insulin VTRS