Biocon subsidiary Biocon Pharma and market expansion services provider DKSH Business Unit Healthcare, have signed an agreement under which DKSH will sell and distribute seven of Biocon Pharma's generic formulations in Singapore and Thailand.
Under the terms of the agreement, DKSH will gain an exclusive license to register and commercialise these seven generic formulations from various therapeutic areas like diabetology, cardiology, oncology and immunology, which will be sold under Biocon's brand in Singapore and Thailand.
DKSH, who have a focus on Asia, will manage marketing and sales as well as logistics for Biocon Pharma, helping drive sales growth through its capabilities and strengths in the medical and pharmacy channels.
This development is in line with Biocon's strategy for expansion of its generic formulations business through licensing of its drug products in multiple markets. Thailand and Singapore are the two large markets in the South East Asia region.
Siddharth Mittal, CEO & Managing Director, Biocon, called the South East Asian countries Singapore and Thailand key markets for the generic formulations pipeline. "This collaboration will enable us to address the growing patient needs for affordable access to high-quality generics for chronic diseases and expand our commercial footprint in this region. Our generic formulations pipeline comprises of difficult-to-make, complex molecules and leverages our strong track record of quality and reliability of supplies to our patients and customers."
"Together with Biocon Pharma, we can help a lot of patients in Asia who require advanced therapies for chronic diseases. We are delighted to provide full agency services to Biocon Pharma," said Bijay Singh, Global Head of Business Unit Healthcare ar DKSH. "With a broad reach across our medical channel in Asia, we are committed to driving growth for Biocon Pharma and improving access to healthcare products for all."
Biocon's Generic Formulations business is built on the back of company's strong portfolio of complex and differentiated APIs. Through forward integration into dosage forms, the company seeks to provide a safe, efficacious and continuous supply of high-quality affordable drugs to address patient needs in diverse markets. Biocon has successfully commercialised a few products under its own label in the US.