These market filings have a market opportunity of USD 40 billion. In particular, Japan offers a market potential of USD 150 million for its insulin product Glargine, says Biocon's Chairman and Managing Director.
Getting approval to sell the biosimilar drug Glargine in Japan will open doors for the company, feels Kiran Mazumdar Shaw, Chairperson and Managing Director of Biocon.
Highlighting that the insulin market currently has just a handful of players and provides huge scope for growth, Kiran Mazumdar Shaw, CMD of Biocon says, the company will be filing its first insulin analogue dossier in FY17.
Kiran Mazumdar-Shaw, Chairman of the company, expects the company to soon win approval in the US as well.
The US government‘s decision to not allow overseas pharmaceutical companies to import active pharmaceutical ingredient (API) applies to only one particular anti retroviral drug and is not a blanket ban, Biocon CMD Kiran Mazumdar-Shaw said.
Speaking to CNBC-TV18, Dr Arun Chandavarkar, CEO & Joint MD, Biocon says that the company is also looking to introduce its biosimilars and insulin portfolio in the UAE.
On Friday, the Central Bureau for Direct Taxes (CBDT) proposed a roadmap to bring corporate tax down from the current 30 percent to 25 percent by doing away with tax breaks to India Inc.
In an interview with CNBC-TV18, Peter Bains, CEO of Syngene International says that the company will invest nearly USD 100 million for a new plant in Mangalore, which will become functional in 2018.
Kiran Mazumdar Shaw, Chairman and MD, Biocon believes India‘s innovation led growth story is what investors are buying into but foreign investors need predictability and clarity in policies and regulations.
Kiran Mazumdar Shaw, CMD, Biocon says there is a need to protect interest and disallow monopolies like big pharma or big companies/ corporates that want to invest and take advantage of the Indian market.
Biocon will be offloading at least 10 percent of Syngene equity as it needs funds to support some of its R&D programmes.
Kiran Mazumdar Shaw, Chairperson and MD, Biocon also said that Syngene has good growth prospects and sound business plan and has a baseline valuation of Rs 3,800 crore.
Rubbishing concerns that the increasing FDA scrutiny of Indian pharma companieswas a case of "irrational clampdown", Biocon CMD Kiran Mazumdar-Shaw told CNBC-TV18 that the US regulator is mandating more stringent norms for companies across the world.
Biocon has launched INSUpen EZ, a second-generation insulin-delivery pen device, developed by Germany‘s Haselmeier. “This is a low-cost pen, which will help us penetrate the market in a bigger way,†CMD Kiran Mazumdar-Shaw told CNBC-TV18‘s Ekta Batra and Nigel D‘Souza.
Biocon CMD Kiran Mazumdar-Shaw said the company‘s research efforts are focused on a number of programs that deliver drugs that women can benefit from.
Biocon has inked a pact with California-based Quark Pharma to co-develop medicines based on the emerging siRNA technology.
Kiran Mazumdar Shaw, CMD, Biocon says the nod is for India marketing rights but opens up huge opportunities as the cancer drug has a market of USD 6 billion worldwide.
Biocon, a global biopharmaceutical enterprise today entered into a licencing agreement with Mylan for three bio-generic insulin products. Kiran Mazumdar, CMD, Biocon, in an interview to CNBC-TV18, says that the company will receive licencing fees from Mylan, however, they will not receive any milestone payments.
Biotech major Biocon has signed an option agreement with Bristol-Myers Squibb Company for Biocon‘s IN-105, a prandial oral insulin product candidate.
Drug firm Abbott today opened its first nutrition research and development center in the country in collaboration with Biocon's subsidiary Syngene.
In an exclusive interview to CNBC-TV18, Kiran Mazumdar Shaw of Biocon says that the breakup with Pfizer will not have any short-term impact on revenues for either company, but will reflect in the fourth quarter financials.
The deal between Biocon and Pfizer to market a range of insulin products may be in crisis. Vikas Dandekar, the India Bureau Chief of PharmAsia News who broke this story tells CNBC-TV18 that while sources are saying talks are on to salvage the deal, it is most likely to be called off.
India's largest listed biotechnology firm Biocon's chairperson and managing director Kiran Mazumdar-Shaw is one of India's most successful entrepreneurs.
Biocon chief Kiran Mazumdar-Shaw says that the research division is set to benefit from the fall in the value of rupee. "That apart, Biocon will see margin improvement in exports due to the rate differential," she says.
Kiran Mazumdar, CMD, Biocon in an interview with CNBC-TV18 speaking about the same said that Optimer is planning to launch within the next three- four months. So, in the short-term Biocon will have some contribution to the bottom line from these supplies.