Biocon Partners with Medix for Distribution of Chronic Weight Management Drug in Mexico

Biocon and Medix sign agreement for Liraglutide distribution in Mexico, targeting the obesity market. Biocon will manufacture and supply the drug, while Medix handles commercialization. The collaboration aims to provide affordable access to Liraglutide for weight management in Mexico, where 70% of the population faces overweight or obesity challenges.

PTI | New Delhi | Updated: 13-05-2024 10:05 IST | Created: 13-05-2024 10:05 IST
Biocon Partners with Medix for Distribution of Chronic Weight Management Drug in Mexico
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Biocon Ltd on Monday announced the signing of a semi-exclusive distribution and supply agreement with Mexico-based Medix for the commercialization of its drug Liraglutide (gSaxenda), used in the treatment of chronic weight management.

Under the agreement with Medix, a specialty pharmaceutical firm, Biocon will be responsible for obtaining regulatory approval, manufacturing and supply of the drug, the company said in a statement.

On the other hand, Medix will take the responsibility for its commercialisation in the Mexican market, it added.

''The collaboration will enable patients in the region who are dealing with obesity to get affordable access to our product, and better manage the disease,'' Biocon CEO and Managing Director, Siddharth Mittal said.

He further said,''Our efforts will be focused on working with Medix to enable the commercialisation of this product expeditiously.'' Medix has an experience of more than 70 years in developing solutions to address the overweight and obesity burden in a country where 70 per cent of the population are dealing with the disease, to improve their quality of life, the statement said.

Medix CEO Carlos Abelleyra said according to the WHO, Mexico is the second country with the highest prevalence of overweight and obesity worldwide.

''Our partnership with Biocon will bring quality and affordability into the pharmacological options for the physician, which supports our vision,'' Abelleyra added.

Citing IQVIA MAT Q4 2023 data, Biocon said the total addressable market opportunity of Liraglutide for obesity indication in Mexico is approximately USD 37 million.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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