Express Scripts lists Biocon subsidiary's Semglee as a preferred glargine brand on NPF

Biocon Biologics (BBL) said that Express Scripts will list BBL interchangeable biosimilar Insulin Glargine, commercialized by Viatris, as a preferred glargine brand on its National Preferred Formulary (NPF), which includes more than 28 million lives.

Express Scripts is a leading pharmacy benefit management organization in the US. Broad coverage of Insulin Glargine (Semglee) by Express Scripts will help ensure that the many patients on its network who need Insulin Glargine may receive the full benefits of and access to treatment with lower or maintained out-of-pocket costs.

Biocon Biologics, a subsidiary of Biocon, co-developed Semglee with Viatris and are together committed to improving patients' access to sustainable, high-quality and affordable biosimilars. As part of this commitment, Viatris will soon commercialize two versions of our landmark Insulin Glargine injection, the first-ever interchangeable biosimilar approved by the United States Food and Drug Administration (USFDA): Semglee (insulin glargine-yfgn) injection, a branded interchangeable product, and Insulin Glargine (insulin glargine-yfgn) injection, an authorized interchangeable biosimilar. Both products will be available in pen and vial presentations and are interchangeable for the reference brand, Lantus. Semglee will also be included in Express Scripts' Patient Assurance Program.

This dual product approach is intended to ensure that this historic interchangeable biosimilar insulin glargine can reach as many patients as possible regardless of financial circumstances, insurance or channel.

In July 2021, the USFDA had approved our biosimilar Insulin Glargine-yfgn injection (Semglee) as the first interchangeable biosimilar product under the 351(k) regulatory pathway. Semglee (insulin glargine-yfgn) Injection and Insulin Glargine-yfgn Injection will be available in pharmacies before the end of the year, and further details related to its partner Viatris' access programs, which aim to ensure that as many patients as possible will benefit from the product, will be available at that time. The Express Scripts formulary change, including coverage of Semglee (insulin glargine- yfgn) on NPF, will occur effective 1 January 2022.

The company's consolidated net profit declined 43.5% to Rs 84.40 crore in Q1 FY22 from Rs 149.40 crore in Q1 FY21. Net sales increased by 3.9% Y-o-Y to Rs 1,760.60 crore in Q1 FY22 from Rs 1,693.80 crore in Q1 FY21.

Shares of Biocon rose 0.31% to Rs 342.80 on BSE. Biocon is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune.

Powered by Capital Market - Live News