Biocon gets insulin boost
DSIJ Intelligence / 25 Jan 2017
Biocon has won a three-year contract of Rs 460 crore from the Ministry of Health, Malaysia.
Biocon has won a three-year contract of Rs 460 crore from the Ministry of Health, Malaysia.
The company will supply recombinant human Insulin (rh-insulin) formulations, manufactured at its large-scale biopharmaceutical facility in Johor, Malaysia. Moreover, the contract may be extended for two more years, if it gets approval by the Government of Malaysia.
Biocon is going to distribute insulins and insulin delivery devices through CRM Pharmaceuticals, a leading local pharmaceutical player which has an extensive supply chain network to service primary healthcare clinics and hospitals across Malaysia. The company has invested about Rs 1,688 crore in Malaysia with 8 lakh square feet state of art facility. Its plant is highly compatible with the highest standards of global regulatory requirements.
According to Biocon’s management, the company is capable in manufacturing cheap and affordable insulins across the globe and is successfully catering to the growing needs. It provides high quality rh-insulin for people with diabetes.
The share price of Biocon increased 5.07 per cent on bourses in early trades and is trading at Rs 1,026.55 in an intraday basis.
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