Biocon and Ajanta Pharma Forge Strategic Alliance for Diabetes Drug

Biotech firm Biocon has partnered with Ajanta Pharma for the distribution and marketing of its diabetes drug Semaglutide across 23 countries, enhancing its global reach. This collaboration allows Biocon to focus on scientific investments, while Ajanta leverages its market presence to promote the GLP-1 therapy worldwide.

Biotech giant Biocon announced a new partnership with Ajanta Pharma, signing an out-licensing agreement for the distribution of its diabetes drug, Semaglutide, in 23 countries.

Under the agreement, Biocon will supply Semaglutide to Ajanta Pharma for exclusive marketing rights in these regions, extending its reach across Africa, the Middle East, and Central Asia.

Biocon CEO Siddharth Mittal emphasized the strategic nature of this alliance in broadening Biocon's GLP-1 portfolio, while Ajanta Pharma's MD, Yogesh Agrawal, highlighted the growing global acceptance of GLP-1 therapies as important milestones in diabetes treatment.

(With inputs from agencies.)