Biocon Limited announced that its long-standing partner, Duopharma Biotech Berhad, through its wholly-owned subsidiary Duopharma (M) Sendirian Berhad, has secured multiple insulin contracts from the Ministry of Health, Malaysia, valued at over MYR 225 million. Under these contracts, Biocon's subsidiary, Biocon Sdn. Bhd. Malaysia, will supply short-acting recombinant human insulin, insulin glargine and insulin aspart to Duopharma for distribution across Malaysia.
The agreements include a three-year contract valued at approximately MYR 155.27 million for human insulin, along with two 2-year agreements for approximately MYR 18 million for insulin glargine and approximately MYR 52.5 million for insulin aspart.
Shreehas Tambe, CEO and Managing Director of Biocon, said Malaysia has been central to Biocon's insulin operations for over a decade, anchored by the company's integrated insulin manufacturing facility in Johor. The facility is the largest of its kind in Asia and enables insulin supply at scale for patients in Malaysia and worldwide.
Biocon has been working with Duopharma Biotech since 2016 to address Malaysia's diabetes care needs. Over 120 million insulin cartridges have been supplied to Ministry of Health facilities over the past decade, supporting more than 450,000 patients in the Malaysian public healthcare system. An estimated 4.75 million people in Malaysia live with diabetes.
Biocon's insulin manufacturing facility in Iskandar Puteri, Johor, employs over 1,100 personnel and has secured approvals from regulatory authorities including the European Medicines Agency and the US Food and Drug Administration for sterile biologic products. The company has invested over USD 600 million in the facility since 2011, representing one of the largest foreign direct investments in Malaysia's biotechnology sector.
Beyond diabetes, Biocon and Duopharma Biotech have collaborated in oncology for over seven years and recently expanded into ophthalmology biologics. Biocon has also partnered with the Malaysian government on the MyMAHIR BioTechies initiative to support biotech graduate skilling and bridge the academia-industry gap.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.