Biocon To Market Insulin Glargine In Mexico
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Mexico has approved bio-pharmaceutical major Biocon's insulin Glargine. Mexican health authority COFEPRIS,, through its partner PiSA Farmaceutica (PiSA), approved the insulin, it was announced on Friday (10 April).
Mexico has been a very important market for Biocon since 2006, where it has been playing a significant role in enabling access to affordable rh-Insulin. Insulin Glargine will augment the affordable insulins therapy for diabetes management. ‘GALACTUS’ by PiSA is the first Insulin Glargine to be approved in Mexico as per the biocomparable approvals pathway defined in 2012.
Biocon is as Asia’s largest insulins producer and has been committed to affordable diabetes management through rh-Insulin (Insugen ®) and Insulin Glargine (Basalog ®) in India and several emerging markets. The company currently has marketing approvals in over 60 countries for rh-Insulin and in over 20 countries for Insulin Glargine.
Biocon Chairperson & Managing Director Kiran Mazumdar-Shaw said: “We are committed to make global impact with our affordable insulins therapy. Our Insulin Glargine, will now enable access to a basal insulin which will further expand the diabetes management therapy for patients in Mexico.”
Diabetes is a major health risk in Mexico, over 70 per cent of the Mexican population is overweight thus prone to developing diabetes. With over 9 million cases of diabetes, it poses a huge disease burden for the government with per capita expenditure on diabetes being as high as $892.5.
Biocon’s presence in Mexico, over the last eight years, has expanded the insulins market substantially by initiating many more patients onto insulin therapy. The increasing affordability of Insulin Glargine will now enable Biocon and PiSA to expand this reach further. The combined market for Insulin Glargine in Mexico is estimated to be in excess of $40 million.