Biocon gets CDSCO nod for generic diabetes medication
Biotech firm
Biocon on Tuesday said it has received approval from the government authorities for a
generic diabetes medication
.
The company has received approval for its
Liraglutide
drug substance and its wholly-owned subsidiary
Biocon
Pharma has received approval for its Liraglutide drug product (6 mg/ml solution for injection in pre-filled pen and cartridge), from the Drugs Controller General of India (
CDSCO
).
The approval is for the generic version of
Victoza
, indicated for the treatment of insufficiently controlled
Type 2 Diabetes Mellitus
in adults, adolescents and children aged 10 years and above, as an adjunct to diet and exercise, the company said in a regulatory filing.
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"The approval of our first vertically integrated GLP-1 in India, Liraglutide, is another significant step forward in expanding access of this product to patients suffering from diabetes,"
Biocon
CEO and MD Siddharth Mittal said.
India has one of the highest number of people with diabetes globally, with estimates exceeding 77 million cases, and expected to rise further, he added.
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"We are now gearing up to launch the product expeditiously through our commercialisation partners in India," Mittal stated.
Biocon shares were trading 0.81 per cent up at Rs 336.75 apiece on BSE.
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