Biznextindia : Indian Pharma major Biocon’s subsidiary, Biocon Pharma Limited and DKSH Business Unit Healthcare, have signed an agreement under which DKSH will sell and distribute seven of Biocon Pharma’s generic formulations in Singapore and Thailand.
This development is in line with Biocon’s strategy for expansion of its generic formulations business through licensing of its drug products in multiple markets. Thailand and Singapore are the two large markets in the South East Asia region.
Biocon’s shares of Biocon is up by 0.89% at 384.90 on the Bombay Stock Exchange at 10 am Monday.
Under the terms of the agreement between the two companies, DKSH will gain an exclusive license to register and commercialize these seven generic formulations from various therapeutic areas like diabetology, cardiology, oncology and immunology, which will be sold under Biocon’s brand in Singapore and Thailand. DKSH will manage marketing and sales as well as logistics for Biocon Pharma, helping drive sales growth through its capabilities and strengths in the medical and pharmacy channels.
“We are happy to partner with DKSH to commercialize Biocon’s generic formulations pipeline in key South East Asian markets of Singapore and Thailand. This collaboration will enable us to address the growing patient needs for affordable access to high-quality generics for chronic diseases and expand our commercial footprint in this region. Our generic formulations pipeline comprises of difficult-to-make, complex molecules and leverages our strong track record of quality and reliability of supplies to our patients and customers” Siddharth Mittal, CEO & Managing Director, Biocon, said.
