First Biosimilar Insulins Company to Partner with International Diabetes Federation (IDF)
Bengaluru, Karnataka; INDIA: February 16, 2021
Biocon Biologics Ltd., a fully integrated ‘pure play’ biosimilars company and a subsidiary of Biocon Ltd. (BSE code: 532523, NSE: BIOCON), is pleased to partner with The International Diabetes Federation (IDF) as the first biosimilar insulins company to promote and support IDF’s Core Mission initiative and activities. This important partnership with IDF coincides with the start of the centenary celebrations of the discovery of insulin and takes forward Biocon Biologics’ mission of enabling affordable access to insulins to people with diabetes worldwide.
Nearly a century after the discovery of insulin, millions of people with diabetes are denied regular and affordable access to this life-saving therapy. People with diabetes are not just finding it difficult to access insulin in emerging markets, even those in developed markets like U.S. are finding it difficult to afford insulin therapy. As a credible, global insulins player, having served more than 2 billion doses of human insulin till date, Biocon Biologics has been engaging with key stakeholders at various global forums to find ways to increase affordable access to insulin and ensure the therapy reaches those who need them the most.
Dr Alexander Zach, Global Head of Market Access & Policy, Biocon Biologics, said: “We are delighted to partner with the International Diabetes Federation and contribute to a stronger global voice for people living with diabetes. Despite 100 years since its discovery, a key impediment to successful diabetes treatment with insulins is the lack of equitable access to affordable insulins. As a leading global insulins player, we have a shared vision of finding viable, long-term solutions to improve insulin access and affordability. This partnership with IDF will further propel these efforts to realize the company’s aspiration of reaching ‘one in five’ insulin-dependent people with diabetes globally. Given our extensive experience in providing affordable insulins globally, we believe we can contribute and support IDF in driving real policy and access actions that will transform lives and diabetes care.”
Prof. Andrew Boulton, President, International Diabetes Federation (IDF), said: “It is with great pleasure that IDF welcomes Biocon Biologics as a new partner. It is an important time for diabetes. This year, we celebrate the centenary of the development of therapeutic insulin in 1921 and next year its first successful use to treat a person with diabetes in 1922. Yet, 100 years after its discovery, this life-saving drug remains beyond the reach of many people with diabetes who need it. For IDF and our partners, the centenary of insulin will provide opportunities to raise awareness of diabetes, promote action to improve access to diabetes care and encourage greater effort to prevent diabetes and its complications. With close to half a billion people now living with diabetes, significant action to address the global impact of diabetes is long overview. Driving the necessary action to move the dial on diabetes care will require the unity, commitment and determination of the global diabetes community.”
With over 15 years of experience in developing biologics and strong scientific and technical capabilities, Biocon Biologics is already benefiting people with diabetes in many emerging and developed markets through improved access and affordability of its insulins.
In the run-up to the 100th anniversary of insulin, Biocon Biologics had unveiled its ‘Mission 10 cents’ program in 2019 to unlock universal access to high quality human insulin (rh-Insulin), by offering it at less than 10 US cents / day for Governments in Low and Middle-Income Countries (LMICs). The announcement was made at a UNAIDS Health Innovation Exchange event held on the side-lines of the 74th session of the UN General Assembly in New York. Biocon Biologics has recently rolled out this program in LMICs like Philippines & Tanzania. This partnership with IDF further strengthens the shared vision of providing universal access to insulins globally to tackle a broad range of diabetes issues, create awareness, educate and advocate effective management of diabetes.
Biocon Biologics has invested, and continues to invest, in creating large scale, high quality insulin manufacturing facilities at global scale to make a difference to diabetes patients worldwide through its biosimilar insulins. The company’s biosimilar insulins are currently available in U.S., Australia, Japan, EU, as well as selected markets in Latin America; Africa, Middle East and Turkey (AFMET) and the Asia-Pacific regions. Till date, Biocon Biologics has served over 3 million patients globally through its portfolio of biosimilars, which spans insulins, monoclonal antibodies and other therapeutic proteins.
About Biocon Biologics Limited:
Biocon Biologics Limited, a subsidiary of Biocon Limited is uniquely positioned as a fully integrated ‘pure play’ biosimilars organization in the world. Building on the four pillars of Patients, People, Partners and Business, Biocon Biologics is committed to transforming healthcare and transforming lives. Biocon Biologics is leveraging cutting-edge science, innovative tech platforms and advanced research & development capabilities to lower treatment costs while improving healthcare outcomes. It has a platform of 28 biosimilar molecules across diabetes, oncology, immunology, dermatology, ophthalmology, neurology, rheumatology and inflammatory diseases. Five molecules from Biocon Biologics’ portfolio have been taken from lab to market, of which three have been commercialized in developed markets like United States, EU, Australia, Canada and Japan. With a team of over 4800 people Biocon Biologics aspires to transform healthcare through affordable innovative solutions as well as impact 5 million patients’ lives by FY 22. www.bioconbiologics.com/businesses/biosimilars/ Follow-us on Twitter: @BioconBiologics
About Biocon Limited:
Biocon Limited, publicly listed in 2004, (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as generic formulations in the US and Europe. It also has a pipeline of promising novel assets in immunotherapy under development. Website: www.bioconbiologics.com; Follow-us on Twitter: @bioconlimited
This press release may include statements of future expectations and other forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects upon Biocon and its subsidiaries/ associates. These forward-looking statements involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from our expectations include, amongst other: general economic and business conditions in India and overseas, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian and global biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither Biocon, nor our Directors, or any of our subsidiaries/associates assume any obligation to update any particular forward-looking statement contained in this release.