Biocon Biologics, Biocon’s subsidiary, and Mylan have launched insulin glargine injection, under the brand Semglee, in the US market. The US FDA had in June approved its insulin glargine injection for controlling high blood sugar in adults with diabetes.
The launch marks Biocon and Mylan's entry into the insulin segment. "This is a very attractive and important segment given the kind of challenges that the US is facing in terms of insulin cost and pricing," said Kiran Mazumdar Shaw, Executive Chairperson at Biocon, in an interview with CNBC-TV18.
"As far as the market opportunity is concerned, the Glargine or the Lantus business is worth almost $6 billion as of today and the biosimilar Glargine market is estimated at $2.2 billion - that is the size of the opportunity that we are addressing," she added.
Speaking about biosimilar pricing, she said the objective and the strategy was to be the lowest cost player. "Because of our India presence and our R&D efforts in India, we believe that we have a strong competitive edge. This is going to be a very strong product for us. It is going to be a volumes opportunity for us.”
Talking about other drugs in the pipeline, she said, “The next biosimilar that we expect approval for in this fiscal is biosimilar Pertuzumab - that is certainly something that we are positioning, and followed by insulin Aspart and of course, our own Recombinant Human Insulin.”