New Delhi, February 28: Biotechnology major Biocon Ltd announced on Friday the launch of its diabetes and obesity management drug, Liraglutide, in the United Kingdom. The product will be available under the brand names Liraglutide Biocon for diabetes management and Biolide for chronic weight management, the company stated.
The launch comes shortly after Biocon received regulatory clearance from the UK's Medicines and Healthcare Products Regulatory Agency (MHRA), marking a significant milestone as Biocon becomes the first generic pharmaceutical company to secure approval for generic Liraglutide (gLiraglutide) in a major regulated market.
Commenting on the launch, Biocon CEO and Managing Director, Siddharth Mittal, highlighted, "The timely launch will offer healthcare providers and patients affordable access to this drug and help fulfill an unmet need."
Mittal further added that the company is actively pursuing expansion opportunities for gLiraglutide across other European markets, the United States, and additional select regions globally.
Liraglutide belongs to a class of medications known as Glucagon-like peptide-1 (GLP-1) receptor agonists. These medications are widely recognized for effectively lowering blood sugar levels and promoting weight loss. Specifically, Liraglutide is a synthetic analog of the GLP-1 peptide and is administered through a once-daily injection, providing a convenient therapeutic option for patients.
Meanwhile, following the announcement, Biocon's shares were trading 3.17% lower at Rs 302.15 per share on the Bombay Stock Exchange (BSE).