Biocon collaborates with Juno Pharma for commercialization of diabetes treatment Liraglutide in Canada
Bengaluru: Biocon Limited, an innovation-led global biopharmaceutical company, has announced the signing of a partnership agreement with Juno Pharmaceuticals, a specialty pharmaceutical company in Canada, for the commercialization of its vertically integrated, complex formulation, Liraglutide, a drug-device combination for the treatment and management of Type 2 diabetes and obesity.
Under the terms of this agreement, Biocon will be responsible for obtaining regulatory approval for Liraglutide, and thereafter, for the manufacture and supply of the product in the Canadian market.
Juno specializes in high-value generic, complex, biosimilar and other medicines of scarcity, to advance the quality of healthcare in the region.
Siddharth Mittal, Chief Executive Officer and Managing Director, Biocon Ltd, said, “We are pleased to partner with Juno Pharmaceuticals for the commercialization of this complex drug product in the Canadian market. The partnership will provide impetus to our strategic focus on geographical expansion, as well as our stated purpose of delivering much-needed medicines to more patients around the world.”
Mark Mantel, Chief Executive Officer, Juno Pharmaceuticals, commented, "Our partnership with Biocon is a significant step in our commitment to provide Canadians with high-quality, affordable medications. We are dedicated to ensuring access to more complex medicines for our patients. Biocon's global leadership in this area excites us and we look forward to more partnerships in the future. Juno remains committed to improving healthcare affordability and innovation for all Canadians through this collaboration."
The total addressable market opportunity of Liraglutide in Canada is approximately US $100 million as per the IQVIA MAT Q2 2023.
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