Biocon inks licensing, supply pact with Tabuk Pharmaceutical Manufacturing

Biocon Ltd on Thursday said it has signed a licensing and supply agreement with Tabuk Pharmaceutical Manufacturing Company to commercialise its 'GLP-1' products for treating diabetes and chronic weight management in select countries of the Middle East.

Under the agreement, the company will develop and manufacture the products and Tabuk Pharmaceuticals -- a fully-owned subsidiary of Astra Industrial Group, a leading pharmaceutical company in the Middle East and North Africa (MENA) region, will hold the marketing authorisation rights, and be responsible to register, import and promote them in the region, Biocon said in a regulatory filing.

The agreement also provides for a provision to expand to other 'GLP' products, as well as the option of a tech transfer that will enable localised manufacturing at a later stage, it added.

The partnership with Tabuk Pharmaceuticals paves the way for the company's vertically integrated, complex GLP1 formulations entry into Saudi Arabia and other ...