Biopharmaceutical major Biocon Ltd and Swiss market expansion services group Diethelm Keller Siber Hegner (DKSH) said on Monday their subsidiaries 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 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. The development is in line with Biocon's strategy for expansion of its generic formulations business through licensing of its drug products in multiple markets.
"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," said Biocon's CEO and Managing Director Siddharth Mittal.
"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," he said in a statement.
Bijay Singh, Global Head of Business Unit Healthcare at DKSH, said: "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 the company's strong portfolio of complex and differentiated active pharma ingredients. Through forward integration into dosage forms, the company seeks to provide an efficacious and continuous supply of high-quality affordable drugs to address patient needs in diverse markets.
The company has successfully commercialised a few products under its own label in the United States.
( With inputs from ANI )