Biocon Limited launches its Glucagon-like peptide-1 (GLP -1), Liraglutide, in the United Kingdom

Biocon Limited (BSE code: 532523, NSE: BIOCON), an innovation-led global biopharmaceutical company, today announced the launch of its GLP-1 peptide, Liraglutide, for diabetes and obesity, in the United Kingdom (U.K.). The drug-device combination will be marketed in the U.K. under the brand names Liraglutide Biocon for diabetes (gVictoza®) and Biolide for chronic weight management (gSaxenda®).

The launch follows the approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), U.K., earlier this year, making Biocon Limited the first generics company to obtain approval for gLiraglutide in a major regulated market.

Siddharth Mittal, Chief Executive Officer and Managing Director, Biocon Limited, said, "The launch of our gLiraglutide for diabetes and obesity in the U.K. marks a significant milestone for Biocon. Making this GLP-1 peptide more accessible and affordable to patients dealing with these conditions is testament to our unwavering commitment to enhancing healthcare outcomes across the globe. The timely launch will offer healthcare providers and patients affordable access to this drug and help fulfil an unmet need. The launch also underpins Biocon's scientific and manufacturing capabilities in developing and bringing to market complex, vertically integrated, GLP-1 formulations. We will continue to focus our efforts towards expanding the reach of gLiraglutide into other European markets, the U.S. and select MoW geographies, as well as enhancing our pipeline of GLP-1 peptide products."

With GLP-1 therapies projected to be a substantive future growth driver for Biocon, the Company remains committed to reinforcing its position as a key player in this area.

Shares of Biocon Limited was last trading in BSE at Rs. 302.60 as compared to the previous close of Rs. 312.05. The total number of shares traded during the day was 173207 in over 3847 trades.

The stock hit an intraday high of Rs. 311.55 and intraday low of 298.55. The net turnover during the day was Rs. 52529548.00.

Source : Equity Bulls

Keywords

Biocon INE376G01013 Biotechnology GLP1 Peptide Liraglutide Diabetes Obesity UK