Friday October 18, 2019

Biocon Reduces Retail Price of its Recombinant Human Insulin 50% in Low-and-Middle Income Countries

"Price should not be the reason to choose between life and death," said UNAIDS executive director Gunilla Carlsson on the occasion

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Biocon, Retail, Price
Biocon chairperson Kiran Mazumdar-Shaw announced the reduction in the cost of life-saving insulin at the joint United Nations Progamme on HIV and AIDS (UNAIDS) health innovation exchange meeting on Wednesday on the margins of the UN General Assembly in New York. Pixabay

Biocon Biologics reduced the retail price of its recombinant human insulin 50 per cent in the low-and-middle income countries, the biotech major said on Friday.

“We will offer the anti-diabetic drug at 10 cents for 40 units of insulin required per patient per day in low-and-middle income countries,” said the city-based bio-pharma firm in a statement here.

Biocon chairperson Kiran Mazumdar-Shaw announced the reduction in the cost of life-saving insulin at the joint United Nations Progamme on HIV and AIDS (UNAIDS) health innovation exchange meeting on Wednesday on the margins of the UN General Assembly in New York.

“Price should not be the reason to choose between life and death,” said UNAIDS executive director Gunilla Carlsson on the occasion.

Biocon, Retail, Price
Biocon Biologics reduced the retail price of its recombinant human insulin 50 per cent in the low-and-middle income countries, the biotech major said on Friday. Pixabay

Over 400 million people worldwide are affected by diabetes. Evidence shows as they live longer, many people with HIV and on HIV treatment are becoming susceptible to non-communicable diseases.

“AIDS activism has led to reducing the price of life-saving medicines and saving millions of lives. Our universal health coverage movement is benefiting from the lessons learned by the AIDS response,” said Carlsson on the occasion.

The Mumbai-based Wadhwani Institute for Artificial Intelligence, an independent, non-profit research institute and global hub, is developing artificial intelligence solutions for social good.

“The Institute has committed to set up a centre of excellence to leverage the use of artificial intelligence for global health,” said the statement.

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The IoT has opened up huge possibilities in health: when connected to the Internet, ordinary medical devices can collect more data, give insight into symptoms and trends, enable remote care and give people more control over their lives and quality of treatment.

Thought-Focus, a technology services firm, will provide access to its Internet of Things (IoT) platform to serve as an affordable, reliable and efficient way to build and extend IoT solutions for transportation, logistics, manufacturing and utilities related to health-care services.

“The IoT has opened up huge possibilities in health. When connected to the Internet, ordinary medical devices can collect more data, give insight into symptoms and trends, enable remote care and give people control over their lives and quality of treatment,” said the statement.

Biocon, Retail, Price
“We will offer the anti-diabetic drug at 10 cents for 40 units of insulin required per patient per day in low-and-middle income countries,” said the city-based bio-pharma firm in a statement here. Pixabay

Zenysis, a technology firm, said it was investing $ 3.5 million to implement data pilots in five countries over the next three years for helping countries to make evidence-based decisions in rolling out universal health coverage and prioritizing investments in health systems.

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“The private sector has a key role to play in advancing the sustainable development goals,” added Ms Carlsson. (IANS)

Next Story

Biocon to Make Three Generic Drugs for Hard-Selling in China

The 10-year agreement envisages Biocon to supply the products to CMS for selling in mainland China

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Biocon, Drugs, China
We have signed an agreement with the subsidiary of China Medical System Holdings Ltd (CMS) to develop, manufacture and supply three generic drugs in the Chinese market. Pixabay

Biotechnology major Biocon would make three generic drugs for hard-selling in China through partnership, the company said on Saturday.

“We have signed an agreement with the subsidiary of China Medical System Holdings Ltd (CMS) to develop, manufacture and supply three generic drugs in the Chinese market,” the city-based firm said in a statement.

The 10-year agreement envisages Biocon to supply the products to CMS for selling in mainland China.

“The foray into China is a part of our long-term generic formulations strategy to expand our business in the Chinese pharmaceuticals market,” said the statement.

Biocon, Drugs, China
Biotechnology major Biocon would make three generic drugs for hard-selling in China through partnership, the company said on Saturday. Pixabay

As the world’s second largest pharma market, the addressable market size for the three drugs is about $800 million (Rs 5,680 crore), according to IQVIA, a US multinational firm that serves health IT and clinical research.

“The collaboration with CMS will allow us to take our US approved generic formulations to patients in China with an early entry,” said Biocon Chief Executive Arun Chandavarkar in the statement.

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The company, however, did not specify the diseases which the three generic drugs will aim to treat. (IANS)