CCM and Biocon enter insulin agreements
CCM Pharmaceuticals (Chemical Company of Malaysia) reported on 14th December 2012 that it had entered into an exclusive licence and distribution agreement with India's Biocon to market, sell and distribute a range of insulin products in Malaysia and Brunei. CCM commented that it had signed agreements with Biocon's subsidiaries, Biocon SA of Switzerland for exclusive licensing and Biocon Ltd and Biocon Malaysia for the supply and distribution of insulin products. CCM added that the signing was in line with its goal to pursue strategic partnerships to strengthen its position in niche therapeutic areas.
The firms noted that according to Malaysian Ministry of Health statistics, 3 million Malaysians were diagnosed with diabetes up to 2011, with another 2 million estimated to be undiagnosed. CCM's own diabetes products, coupled with Biocon's range of insulins, will provide CCM with an opportunity to gain a bigger share in the diabetes market.