Home >industry >manufacturing >Mexico gives nod to Biocon insulin

Hyderabad: Biocon Ltd on Thursday said its bio-similar insulin glargine has been approved by Cofepris, the Mexican health authority.

Insulin glargine is a long-acting insulin that helps to control of blood glucose throughout the day. A biosimilar is a generic version of a biotech drug.

Mexico has been an important market for Biocon since 2006, where it is marketing its affordable rh-Insulin. The market for insulin glargine in Mexico is estimated to be in excess of $40 million, Biocon said.

Biocon is one of the largest insulins producers of rh-Insulin and insulin glargine with marketing approvals in over 60 countries for rh-Insulin and in over 20 countries for insulin glargine. “Our insulin glargine, will now enable access to a basal insulin which will further expand the diabetes management therapy for patients in Mexico," said Kiran Mazumdar-Shaw, chairperson and managing director of Biocon.

Biocon did not specify, when the insulin product will be launched in Mexico.

“It’s a decent size product, but it will take at least three years for Biocon to gain any sizable market share," said Hitesh Mahida, an analyst, tracking pharma at Mumbai-based Antique Stock Broking Ltd.

Shares of Biocon declined 3.37% to Rs.468.90 on BSE, while the benchmark Sensex gained 0.62% to 28,885.21 points.

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