New Delhi: Biotech firm Biocon on Tuesday said it has signed an out-licensing agreement with Ajanta Pharma to market its diabetes drug in 23 countries.
Press Release |
Under the terms of the agreement, Biocon will be responsible for supplying Semaglutide to Ajanta for exclusive marketing in 23 countries and semi-exclusive marketing in 3 countries across Africa, Middle East and Central Asia. "This partnership with Ajanta Pharma is a strategic step in expanding the global footprint of Biocon's GLP-1 portfolio and maximizing the value of our scientific investments in complex peptide development," Biocon CEO and MD Siddharth Mittal said in a statement.
Ajanta Pharma MD Yogesh Agrawal noted that the GLP-1 therapies have seen rapid global acceptance and have emerged as blockbuster products worldwide. "We are excited to partner with Biocon for Semaglutide and take this important therapy to the markets where Ajanta has a strong on-ground presence and deep reach. We are confident of building Semaglutide into a meaningful and high-growth brand across these countries in the years ahead," he added.
Disclaimer: This story is from the syndicated feed. Nothing has changed except the headline.
