Biocon Biologics inks pact with CSSC in Tanzania for its 'Mission 10 cents'

Biocon Biologics, a subsidiary of Biocon, signed a Memorandum of Understanding (MoU) with the Christian Social Services Commission (CSSC), a faith-based organization active in Africa, to provide affordable access to quality insulin.

Biocon Biologics is helping unlock universal access to quality insulins in low-and middle-income countries (LMICs) by making recombinant human insulin (rh-insulin) available for less than 10 U.S. cents per day as a part of its 'Mission 10 cents' program. Biocon Biologics is working with local partners to help strengthen overall healthcare capacity with the aim of supporting all people with diabetes in LMICs, where diabetes prevalence has been rising more rapidly than in high-income countries.

Diabetes is a major cause of blindness, kidney failure, heart attacks, stroke and lower limb amputation. As per WHO, over 18% or nearly one in five, COVID-19 deaths in Africa were found to be among people with diabetes in an analysis of 14 African countries.

Shares of Biocon were up 0.24% to Rs 456.40.

The company's consolidated net profit fell 23% to Rs 195.40 crore on 11.3% rise in net sales to Rs 1,744.80 crore in Q2 September 2020 over Q2 September 2019.

Biocon is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune.

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