Prime Highlights
- Duopharma Biotech secured insulin supply contracts worth over 225 million Malaysian Ringgit from Malaysia’s Ministry of Health, with Biocon supplying the products.
- The partnership has delivered more than 120 million insulin cartridges over the past decade, benefiting over 450,000 patients in Malaysia.
Key Facts
- Biocon Ltd. is a biopharmaceutical company focused on diabetes, oncology, and biologics.
- The contracts cover recombinant human insulin, insulin glargine, and insulin aspart for Malaysia’s public healthcare system.
Background
Biocon Ltd. said its long-term partner, Duopharma Biotech Berhad, has secured multiple insulin supply contracts from Malaysia’s Ministry of Health worth more than 225 million Malaysian Ringgit. Under the agreements, Biocon’s Malaysian subsidiary, Biocon Sdn. Bhd., will supply various insulin products to Duopharma for distribution across the country’s public healthcare system.
The contracts include a three-year agreement valued at 155.27 million Malaysian Ringgit for recombinant human insulin. In addition, Duopharma secured two-year contracts worth 18 million Malaysian Ringgit for insulin glargine and 52.5 million Malaysian Ringgit for insulin aspart.
Biocon said the agreements strengthen its role in supporting diabetes care in Malaysia through its partnership with Duopharma. The company added that its manufacturing operations in Johor allow it to supply insulin products at a large scale and improve patient access in Malaysia and other markets.
According to Biocon, the partnership with Duopharma began in 2016 to help address the rising burden of diabetes in Malaysia. Over the last decade, the collaboration has supplied more than 120 million insulin cartridges to facilities operated by Malaysia’s Ministry of Health. The company said these supplies have supported over 450,000 patients within the country’s public healthcare network.
Beyond diabetes care, the two companies have expanded their collaboration into other therapeutic areas. Biocon stated that both firms have worked together in oncology for more than seven years and recently broadened their partnership to include ophthalmology biologics.
Biocon shares traded higher following the announcement and continued to hold gains during the session. The stock has risen around 10% so far this year.