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| Biocon forays into insulin market |
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November 12, 2004
Publication : Deccan Herald |
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The company aims to capture around 20 per cent of the Rs 220 crore insulin market in India in the next two years.
Biocon Limited, India's leading biotechnology company, on Wednesday launched INSUGEN, the new generation bio-insulin, for the treatment of Diabetes.
Announcing the launch at a press conference here, Biocon Chairman and Managing Director Kiran Mazumdar-Shaw said INSUGEN is the world's first recombinant human (r-DNA) insulin using a unique technique Pichia Expression. Biocon is also the first Indian insulin producer to submit a DMF (drug master file) to the United States Food and Drug Administration (USFDA).
INSUGEN will be available in 10ml vials of 40iu/ml for an introductory price of Rs 126 in India. It is available in three different formulations of INSUGEN in the market for the treatment of Diabetes, such as INSUGEN R (regular), INSUGEN (NPH) and INSUGEN 30/70 (Biphasic). The existing makers of insulin in India include Novo Nordisk, Eli Lilly and Wockhardt.
Ms Shaw said the product is currently available in Delhi, Punjab, Rajasthan, Maharashtra, Gujarat, Goa, Karnataka, Tamil Nadu, Andhra Pradesh and Kerala. It will be launched in the eastern part of the country, once the field staff is put in place, she added.
The company aims to capture at least 20 per cent of the Rs 220 crore insulin market in India in the next two years.
Ms Shaw said the company would market the product globally, targeting an estimated 100 million diabetics.
"Besides India, we will launch the product in the Asian region and Latin America. We can begin selling in the United States and Europe once the regulatory approvals are in place," Ms Mazumdar-Shaw said.
Currently there are 30 million diabetics in India, which is expected to go up to 57.2 million by 2025.
Biocon was also working with US-based Nobex Corporation to develop orally-deliverable insulin and had entered into an agreement to supply human insulin to Bristol Myers-Squibb once they were ready with the inhalable version of the drug, she said.
"We hope to have proof-of-concept data for the oral insulin product within the next two years," she said.
Company President (Marketing) Ajay Bharadwaj said the process of registering the product was on in 20 countries and Insugen would be launched in the Asian market within the next few months.
In addition, the company has announced a "winning with Diabetes" walk with former Pakistani cricketer Wasim Akram on November 14, 2004 (World Diabetes Day) to spread diabetes awareness. Biocon has also launched a dedicated portal for diabetes: www.insugen.com.
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