Shares of Biocon Ltd slipped 4% on Friday, 28 February, after the company announced that their Glucagon-like Peptide-1 (GLP-1) equivalent, Liraglutide, would be made available in the United Kingdom. The Liraglutide drug will be used to treat diabetes and obesity.

With this launch, Biocon will become the first generic company to be authorized by the Medicines and Healthcare Products Regulatory Agency (MHRA) in the United Kingdom for Liraglutide in a significant regulated market.

The two brand names under which Biocon’s Liraglutide will be marketed are Biocon for Diabetes (a generic form of Victoza) and Biolide for Chronic Weight Management (a generic form of Saxenda).   

This combination of drug and gadget has given patients with type 2 diabetes and obesity, two conditions that are becoming more prevalent globally, a low-cost alternative.

Siddharth Mittal, CEO and Managing Director of Biocon, said, “The launch of our gLiraglutide for diabetes and obesity in the UK marks a significant milestone for Biocon. Making this GLP-1 peptide more accessible and affordable to patients is a testament to our unwavering commitment to enhancing healthcare outcomes across the globe. The timely launch will offer healthcare providers and patients affordable access to this drug and help fulfill an unmet need.”

Bringing its generic Liraglutide to more European markets, the US, and a few “Markets of the World” (MoW) regions is a major goal for the business Biocon.

The company also wishes to broaden the range of GLP-1 peptide compounds in its portfolio to improve its standing in this quickly growing therapeutic market.

The Role of GLP-1 in Diabetes and Weight Management   GLP-1 receptor agonists, such as Liraglutide, are commonly used to treat diabetes because of their ability to decrease glucagon release, raise insulin synthesis, and regulate blood sugar levels.

They help people lose weight by decreasing hunger and delaying stomach emptying, which makes them useful in the treatment of obesity. The importance of GLP-1 medicines in the treatment of type 2 diabetes and obesity is becoming more widely acknowledged as a result of their rising prevalence.

At 3:30 pm, the shares of Biocon closed 2.87% lower at Rs 308.90 on NSE.

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