On Monday, 13th May, Biocon Ltd. declared that it has signed a semi-exclusive distribution and supply deal with Medix, a company based in Mexico, for the marketing of Liraglutide, a medication used to treat chronic weight control.
The drug’s manufacturing, supply, and regulatory approval would all fall under Biocon’s purview under the terms of the partnership with specialist pharmaceutical business Medix, the company said in a statement. However, it also stated that Medix will be in charge of commercializing it in the Mexican market. Siddharth Mittal, CEO and Managing Director of Biocon, stated, “The partnership will allow patients in the area who are struggling with obesity to have affordable access to our product and better manage the disease.”
He added, “Our efforts will be focused on working with Medix to enable the commercialization of this product expeditiously.” According to the statement, Medix has more than 70 years of experience creating solutions to improve the quality of life for those who suffer from overweight and obesity in a nation where 70% of the population is affected by the condition.
According to Biocon, the total addressable market opportunity for Liraglutide for the obesity indication in Mexico is estimated to be around USD 37 million, citing data from the IQVIA MAT Q4 2023.