Biocon launches blood sugar regulating drug Liraglutide in U.K.

Biocon has announced the launch of its GLP-1 peptide Liraglutide for diabetes and obesity in the United Kingdom (U.K.).

The drug-device combination will be marketed in the U.K. under the brand names Liraglutide Biocon for diabetes (gVictoza) and Biolide for chronic weight management (gSaxenda).

The launch follows the approval from the Medicines and Healthcare Products Regulatory Agency (MHRA), U.K., earlier this year, making Biocon the first generics company to obtain approval for gLiraglutide in a major regulated market.

Siddharth Mittal, chief executive officer and managing director, Biocon, said: The launch of our gLiraglutide for diabetes and obesity in the U.K. marks a significant milestone for Biocon.

The timely launch will offer healthcare providers and patients affordable access to this drug and help fulfil an unmet need. We will continue to focus our efforts towards expanding the reach of gLiraglutide into other European markets, the U.S. and select MoW geographies, as well as enhancing our pipeline of GLP-1 peptide products.

Biocon is an innovation-led global biopharmaceuticals company engaged in the production of therapies for chronic conditions like diabetes, cancer, and autoimmune diseases. It has developed and commercialized novel biologics, biosimilars, and complex small-molecule APIs in India and several key global markets, as well as generic formulations in the US, Europe, & key emerging markets. It also has a pipeline of promising novel assets in immunotherapy under development.

The company had reported a consolidated net profit of Rs 25 crore in Q3 FY25, which is significantly lower as compared with the PAT of Rs 660 crore posted in Q3 FY24. Revenue from operations fell by 3% YoY to Rs 3,821 crore during the period under review.

The scrip fell 2.68% to currently trade at Rs 303.70 on the BSE.

On a year-to-date (YTD) basis, the stock has declined by 17.69%. In that same period, the benchmark Nifty 50 index and the Nifty Pharma index have lost 6.33% and 15.48%, respectively.

Powered by Capital Market - Live News