Biotechnology major Biocon and pharmaceutical company Mylan N V on Thursday announced the launch of their insulin biosimilar Semglee, indicated for the treatment of diabetes, in Australia.
"We are extremely excited to enable affordable access to Semglee, a high quality biosimilar Insulin Glargine, co-developed and manufactured by Biocon Biologics, to people with diabetes in Australia. We are committed to use our science, scale and expertise to shift the access paradigm for patients in need of insulins across the globe," Biocon Biologics CEO Christiane Hamacher said.
Insulin glargine is indicated for the treatment of type 1 diabetes mellitus in adults, adolescents and children aged six years and above and type 2 diabetes mellitus in adults.
In a regulatory filing Biocon said Semglee will be available on the Pharmaceutical Benefits Scheme (PBS).
"...availability of Semglee through the Pharmaceutical Benefits Scheme will expand patient access to this therapy in Australia and will reduce the cost burden for PBS," he added.
Australia's health regulator Therapeutic Goods Administration (TGA) had approved Semglee, co-developed by Biocon and Mylan. Mylan and Biocon's insulin glargine biosimilar is currently approved in more than 40 countries around the world.
Shares of Biocon Ltd were trading 2.23 per cent higher at Rs 227.10 apiece on BSE.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)