Dubai, UAE and Bengaluru, India: Dec 9, 2015
NeoBiocon, a collaboration between Asia's leading biopharmaceuticals company Biocon Ltd and Dr. B.R. Shetty, Chairman of the UAE-based Neopharma, announced today that it has partnered with Novartis Middle East FZE, to market Jalra (Vildagliptin) and Jalra-M (Vildagliptin + Metformin) in UAE. This partnership will help NeoBiocon expand its product offerings in the metabolics segment and will immensely benefit diabetics in UAE.
Vildagliptin is an oral anti-diabetic agent that delivers consistent and robust blood sugar control in patients with type 2 diabetes. It is a class of dipeptidyl peptidase IV (DPP-IV) inhibitors, which does not cause weight gain and have low risks for hypoglycaemia.
The overall market for oral hypoglycaemic agents (OHA) in UAE is estimated to be USD 115 million and DPP-IV inhibitors command nearly 50% share of this market. A novel product, Vildagliptin is available both as monotherapy as well as in combination with metformin. Together Vildagliptin and Vildagliptin + Metformin commands over 30% of the DPP-IV market in UAE.
NeoBiocon has received approvals from the Ministry of Health-UAE for marketing Jalra and Jalra-M in the country and the launch is scheduled for Jan 2016. These products will be manufactured by Novartis in Europe and marketed and distributed by NeoBiocon in UAE after local release through Neopharma.
Talking about the partnership, Dr. B. R. Shetty, Chairman, Neopharma, said: "We are delighted to extend our partnership with Novartis and Biocon for these novel products. Biocon's leadership in the diabetes segment will augur well for marketing these brands in UAE."
Commenting on the development, Dr Kiran Mazumdar-Shaw, CMD, Biocon, said: "Biocon is committed to offer advanced therapies for diabetics the world over. We are indeed pleased to partner with Novartis to offer Jalra and Jalra-M to address the growing needs of type 2 diabetes patients in UAE."
The partnership between NeoBiocon and Novartis will benefit the large and increasing number of diabetics in the UAE. This will result in enhancing access to this novel oral hypoglycaemic agent by leveraging the huge marketing network of NeoBiocon & distribution network of NMC Healthcare. Novartis will continue to market its brands Galvus & Galvusmet in the UAE.
Mohamed Ezz Eldin, Country Pharmaceutical Organization Head (UAE), Novartis said: "Our mission is to improve patient lives, and help them lead a normal and healthy life. Novartis is a company with a mission: Delivering the right treatment to the right patient at the right time. Therefore, as part of our continuous efforts to maximize patient access to our medications, Novartis is partnering with NeoBiocon, which aims to help more Diabetic patients to gain access to innovative medications, in addition to supporting the local manufacturing and partnering with local companies. This could not have happened without the vision of the UAE Government, and the great support from the UAE Health Authorities, and MOH who continuously encourage investment, innovations and improving patient's lives."
NeoBiocon is amongst the fastest growing pharmaceutical companies in UAE and is ranked amongst the top 25 pharma companies in the region. It is the no.1 generic pharma company in UAE, in the cardiovascular segment with successful brands like Statix (atorvastatin). NeoBiocon is committed to bring innovative products to the GCC market and enhancing capabilities of the local manufacturers.
Established in 2011, NeoBiocon markets its own brands in UAE & other GCC markets in various therapies such as metabolics, oncology, asthma & allergic rhinitis, anti-infectives and others. Through this partnership with a multinational pharma company, NeoBiocon has further strengthened its resolve to create a positive impact in the lives of the patients through innovative products.
About Novartis
Novartis provides innovative healthcare solutions that address the evolving needs of patients and societies. Headquartered in Basel, Switzerland, Novartis offers a diversified portfolio to best meet these needs: innovative medicines, eye care and cost-saving generic pharmaceuticals. Novartis is the only global company with leading positions in these areas. In 2014, the Group achieved net sales of USD 58.0 billion, while R&D throughout the Group amounted to approximately USD 9.9 billion (USD 9.6 billion excluding impairment and amortization charges). Novartis Group companies employ approximately 120,000 full-time-equivalent associates. Novartis products are available in more than 180 countries around the world. For more information, please visit http://www.novartis.com
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About Biocon Limited
Biocon Limited, publicly listed in 2004, (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is India's largest and fully-integrated, innovation-led biopharmaceutical company. As an emerging global biopharmaceutical enterprise serving customers in over 100 countries, it is committed to reduce therapy costs of chronic diseases like autoimmune, diabetes, and cancer. Through innovative products and research services it is enabling access to affordable healthcare for patients, partners and healthcare systems across the globe. It has successfully developed and taken a range of novel biologics, biosimilars, differentiated small molecules and affordable recombinant human insulin and analogs from 'Lab to Market'. Some of its key brands are INSUGEN®(rh-insulin), BASALOG® (Glargine), CANMAb™ (Trastuzumab), BIOMAb-EGFR™ (Nimotuzumab) and ALZUMAb™(Itolizumab), a 'first in class' anti-CD6 monoclonal antibody. It has a rich pipeline of biosimilars and novel biologics at various stages of development including a high potential oral insulin.
For further information, please contact:
Media Relations
Seema Ahuja
VP & Global Head of Communications
Phone: +91 080 2808 2808
Email: seema.ahuja@biocon.com
Rumman Ahmed
Sr Manager - Corporate Communications
Phone: +91 080 2808 2808
Email: rumman.ahmed@biocon.com
Investor Relations
Saurabh Paliwal
Head - Investor Relations
Phone: +91 95383 80801
Email: saurabh.paliwal@biocon.com
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