Shares of Biocon Ltd fell 1% after touching a day’s high of Rs 361.35 on 17th October, despite the company’s subsidiary announcing a multi-year agreement with US non-profit Civica, establishing an exclusive distribution channel to supply affordable insulin and other pharmaceutical products in the US.

Biocon Biologics will manufacture and supply Insulin Glargine and other products to Civica under the new deal.

The insulin will be sold under Civica’s brand across the US, except in California. There, it will be sold under the CalRx brand. Civica will handle all sales, promotion, and distribution in the US.

Meanwhile, Biocon Biologics will continue selling its FDA-approved Insulin Glargine-yfgn (Semglee) under its own brand. The company will retain ownership of the intellectual property and marketing authorisation for Insulin Glargine. Moreover, the deal does not involve any technology transfer.

Shreehas Tambe, CEO and MD of Biocon Biologics, said the partnership helps the company reach underserved populations. It combines direct sales with strategic collaboration to enhance patient access.

Civica CEO Ned McCoy added that the partnership supports the non-profit’s goal of making insulin affordable in the US.

The deal will strengthen Biocon’s US sales as the company targets a $7 billion global opportunity. The company has secured four FDA approvals in the past 10 months and has nine products in its US portfolio.

At 1:42 PM, the shares of Biocon Ltd were trading 0.66% lower at Rs 355.85 on NSE.

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