Biocon aims for top global insulin spot in 5 years
Biocon, currently the third-largest insulin supplier by volume globally, has set its sights on becoming number one globally within five years.
Executive Chairperson Kiran Mazumdar-Shaw says Biocon's ability to quickly ramp up production gives it an edge as it goes after this goal.
Biocon targets $30B insulin market
As giants like Novo Nordisk and Eli Lilly focus on new diabetes and weight-loss drugs, Biocon sees a chance in the $30 billion insulin market.
With more than 830 million people worldwide living with diabetes, especially in Asia, Africa, and Latin America, demand for affordable insulin is only growing.
Biocon is investing heavily in production and teaming up with partners for better delivery systems.
As Mazumdar-Shaw puts it, these market changes are a "windfall" that could help them make insulin more accessible where it's needed most.