Friday, 27 January 2017

Biocon gets Rs 460 cr insulin order from Malaysia

Biotech major Biocon on Thursday said its Malaysian subsidiary has won a Rs 460 crore order to supply recombinant human insulin to the Malaysian health ministry. "The insulin cartridges and reusable pens will be produced and supplied from our biopharmaceutical plant at Johor in Malaysia under its government's off-take agreement initiative, which promotes local manufacturing and lowers reliance on imported medicines," the city-based pharma said in a statement here. 

The three-year contract is extendible by two years with the government's approval. The National Pharmaceutical Regulatory Authority approved the company's product for commercial sales in the Southeast Asian country.

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