Biocon deal with Biomm for generic Ozempic

Indian drugmaker Biocon (BSE: 532523) has entered an exclusive licensing and supply agreement with Brazil’s Biomm SA for the commercialization of its vertically integrated drug product, semaglutide, a generic version of Novo Nordisk’s (NOV: N) blockbuster diabetes drug Ozempic.

Under the terms of this agreement, Biocon will undertake the development, manufacturing and supply of the drug product, and Biomm will be responsible for obtaining regulatory approval and commercialization in the Brazilian market. Semaglutide is also the active ingredient of Novo Nordisk’s much in demand obesity treatment Wegovy.

Biomm is Brazil’s first and only biotechnology focused company, providing high quality healthcare to patients with chronic conditions and enhancing access to the latest technologies and treatments. The company focuses on developing, manufacturing and commercializing complex biotech and biosimilar drug products at its state-of-the-art production facility in Nova Lima.