Biocon's GLP-1 diabetes drug gets FDA nod: What it means
Biocon Pharma just got US Food and Drug Administration approval for its generic liraglutide injection (gVictoza), a once-daily shot to help manage type 2 diabetes, even for children as young as 10.
The approved version comes in easy-to-use prefilled pens.
Biocon's big play in the growing GLP-1 space
This win adds muscle to Biocon's lineup of GLP-1 therapies, coming right after its recent FDA nod for a weight management drug (gSaxenda).
With the GLP-1 market growing fast (worth $127 million in the U.S.), Biocon is clearly aiming big in the diabetes and obesity space.
Biocon boosts its financial muscle to compete globally
To keep up momentum, Biocon completed acquisition of OCRPS of two wholly owned subsidiaries, resulting in 100% holding of the paid-up share capital, investing over ₹300 crore (₹315.34 crore) to support working capital, capex and general corporate needs.
It's all about building a stronger foundation to compete globally.