CCM Pharmaceuticals Sdn Bhd (CCMP), a wholly owned subsidiary of Chemical Company of Malaysia Berhad has secured an exclusive license and distribution rights from Biocon Ltd, India to market, sell and distribute a range of insulin products in Malaysia and Brunei.
According to CCM’s press release, the partnership between CCMP and Biocon is expected to bring value to the local insulin markets in Malaysia and Brunei, which is valued at about RM90 mil.
Commenting on the signing, Encik Amirul Feisal, CCM’s Group Managing Director said the collaboration was in line with CCM’s vision to pursue strategic partnerships to strengthen its pharmaceutical division’s equity and portfolio in niche therapeutic areas such as oncology, biosimilars and vaccines.
“While building our own portfolio of biosimilars, collaborations with global leaders such as Biocon provide great impetus to accelerate and strengthen our overall capabilities from developing generic pharmaceuticals, leveraging the expiry of innovator patents to marketing and distribution.”
“Incidence of diabetes is fast reaching endemic proportions and all nations – rich and poor – are suffering from the impact of disease that has long-term ramifications on social and human development,” he added.
According to the Ministry of Health statistics, three million Malaysians were diagnosed with diabetes up to 2011. Over two million others are estimated to be undiagnosed. The diabetes market is one of the largest and growing Therapeutic Class in the Malaysian pharmaceutical market. In 2011, the diabetes market was worth RM277 million with a 10.6 per cent growth.
This strategic initiative with Biocon is also part of CCMP’s foray into biosimilars and CCMP will be introducing the first biosimilar insulin in Malaysia which will not only meet the Country’s increasing demand for insulin products but also help lessen Government expenditure.
Source: CCM press release