Biotech company Biocon has introduced its drug for the management of diabetes and obesity in the United Kingdom, its first major milestone as a player in the international pharma market.
Liraglutide, an GLP-1 peptide, will be traded as Liraglutide Biocon for diabetes and Biolide for long-term weight management, Biocon said in a statement on Friday. The launch comes following regulatory approval by the UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) this year. Biocon Ltd has thus become the first generics firm to gain approval for gLiraglutide in a key regulated market.
“The launch in a timely manner will provide affordable access to healthcare providers and patients for the drug and will help address an unmet need,” said Siddharth Mittal, Biocon CEO and MD.
The firm also intends to roll out gLiraglutide into other European countries, the US, and some global regions, he said.
What is Liraglutide?
Medications like GLP-1 regulate blood sugar levels and promote weight reduction.
Liraglutide is an artificial form of the GLP-1 peptide and is given as a single daily injection for the treatment of diabetes and obesity.
Market Impact
After the announcement, Biocon shares were down 3.17% at ₹302.15 per share on the BSE.
Through this UK launch, Biocon enhances its presence in the global diabetes treatment and obesity market, providing affordable and accessible health solutions globally.