Philippines; September 30, 2020:
Biocon Biologics India Ltd., a fully integrated ‘pure play’ biosimilars company, headquartered in Bangalore, India and a subsidiary of Biocon Ltd. (BSE code: 532523, NSE: BIOCON), has signed a Memorandum of Understanding (MoU) with the governments of two municipalities in the Philippines and a social enterprise reach52 to enable affordable access to quality insulins in the country. Biocon has nearly two decades of experience in providing insulins and analogs to people with diabetes across the world. Its insulin glargine is commercialized in developed markets of US, Europe, Australia, and Japan. This is a part of Biocon Biologics’ commitment to unlock universal access to quality insulins through the ‘Mission 10 cents’ program by making recombinant human insulin (rh-insulin) available for less than 10 U.S. cents per day in low- and middle-income countries (LMICs).
The project, which will commence in the municipalities of Pototan and Cuartero in the provinces of Iloilo and Capiz, respectively, will aim to develop a scalable framework to strengthen access to timely, affordable and quality diabetes care at the municipal level in the Philippines to ensure better patient outcomes and reduced cost of care.
Through ‘Mission 10 Cents,’ Biocon Biologics aims to implement a continuum of care model encompassing a diabetes patient’s journey from awareness to early diagnosis and treatment. This patient-centric model seeks to decentralize diabetes care via task shifting programs to bring prevention and care closer to where people live. It envisages insulinization of patients with regular blood glucose monitoring through an end-to-end information system connecting the patient and clinician for effective disease management. The aim is to go beyond the product to help transform the patient ecosystem and touch the lives of millions of people with diabetes in the Philippines.
Dr Christiane Hamacher, CEO, Biocon Biologics, said: “As a committed global insulins player, Biocon Biologics seeks to shift the access paradigm for patients in need of quality insulins across the globe through its ‘Mission 10 cents’ program. We are pleased to partner with the Philippines government for a long-term, integrated diabetes management program enabling affordable access for patients. This initiative is a part of our larger commitment to support low and middle-income countries build a sustainable healthcare ecosystem that enables equitable access to insulins. We are aware of the challenges associated with the affordability of insulin therapy even after 100 years of its discovery and are collaborating with like-minded partners to ensure pricing does not impede access for patients who need this life-saving therapy. We aspire to co-create with our partners a patient ecosystem that goes beyond the product to transform the lives of millions of diabetes patients globally.”
Dr Alexander Zach, Global Head of Market Access & Policy, Biocon Biologics, said: “Biocon Biologics is extremely proud to collaborate with the Municipalities of Pototan and Cuartero, Philippines, along with our social enterprise partner reach52 to realise our common vision of expanding universal access to quality diabetes care and promoting overall patient well-being. Mission 10 cents is not only about offering Biocon’s rh-insulin at a lower price but it is a partnership with diverse stakeholders that goes beyond the product to transform the patient ecosystem and contribute to achieving better health outcomes and reduce cost of care for millions of people living with diabetes in the Philippines.”
Mr. Rafael Enrique P. Lazaro, Honourable Mayor, Municipality of Pototan, said: “We are excited to work with both reach52 and Biocon Biologics on this program. Diabetes is one of the fastest growing diseases in the Philippines, affecting everyone from all walks of life. It is my honour and pleasure to facilitate this partnership on behalf of my constituents that will make healthcare accessible to lower-income residents, and look forward to seeing the results of this program deliver better healthcare for our Municipality. It is my firm belief that a strong symbiotic partnership amongst Government Offices, Non-profit Organizations and Private Corporations is essential to combat whatever obstacles we may face in the future.”
Mr. Tito L. Mayo, Honourable Mayor, Municipality of Cuartero, said: “Capiz is a fourth-class Municipality, with many of our residents living in upland Barangays, far from the rural health unit. Diabetes is still a challenge for them too, and we need innovative partnerships like this one with reach52 and Biocon Biologics to serve everyone in Cuartero with essential health services.”
Mr. Edward Booty, CEO, reach52, said: “We have worked with the governments for this program for over three years now. I have always been inspired by their leadership and drive to serve their communities better and think of new ways to work with private sector and other organisations to do so. With diabetes being one of the most worrying and growing global diseases, our role at reach52 is to find partnerships to help create health for all. I am confident that Biocon Biologics will deliver on that promise and bring affordable insulin and resources to help strengthen local health systems.”
Biocon Biologics’ Mission 10 Cents to Unlock Affordable Access to Quality Insulins
In the run-up to the 100th anniversary of insulin, Biocon Biologics had unveiled its ‘Mission 10 cents’ program in 2019 to unlock universal access to high quality human insulin. The Company is offering recombinant human insulin (rh-insulin) at less than 10 U.S. cents per day, assuming a daily dosage of 40 IU, in LMICs for vials sourced by the government directly from the Company. This is much lower when compared to the blended median patient prices in LMICs of US$ 9 per 10 ml vial1 translating to 36 U.S. cents/ day.
The Company is currently engaging with several governments in Southeast Asia, Africa, Middle East and the Caribbean to explore ways to disintermediate the supply of insulin, and to make sure that insulin pricing does not become a constraint to the well-being of individuals and communities affected by diabetes.
About Diabetes in Philippines
Rapid urbanization, changing lifestyles and sub-optimal dietary habits are driving the incidence of diabetes in the Philippines leading to an increasing economic burden. In 2013, diabetes was reported to be the sixth leading cause of death among Filipinos (Source – Philippine Health Statistics, Department of Health, Philippines). More than half of the patients with diabetes were diagnosed only at a later stage, and the delay in the initiation of insulin led to higher costs for the health system due to presentations of diabetes-related complications. Almost 50% of diagnosed patients were not initiated on any treatment due to issues related to affordability and other healthcare system challenges.
Source:
- BMJ Global Health 2019: Insulin Prices Availability and affordability in 13 LMICs
About Biocon Biologics India Limited:
Biocon Biologics India Limited (Biocon Biologics), a subsidiary of Biocon Ltd, is uniquely positioned as a fully integrated ‘pure play’ biosimilars organization in the world. It has a track record of excellence in insulins for nearly two decades and has commercialized recombinant human insulin and Insulin analogs in several markets across the globe. Its insulin glargine is commercialized in developed markets of US, Europe, Australia, and Japan. Building on the four pillars of Patients, People, Partners and Business, Biocon Biologics is committed to transforming healthcare and transforming lives. Biocon Biologics is leveraging cutting-edge science, innovative tech platforms and advanced research & development capabilities to lower treatment costs while improving healthcare outcomes. It has a platform of 28 biosimilar molecules across diabetes, oncology, immunology, dermatology, ophthalmology, neurology, rheumatology and inflammatory diseases. Five molecules from Biocon Biologics’ portfolio have been taken from lab to market, of which three have been commercialized in developed markets like EU, Australia, United States, Canada, and Japan. It aspires to benefit 5 million patient lives with its biosimilars and attain a revenue milestone of USD 1 billion in FY22. Follow-us on Twitter: @BioconBiologics
About Biocon Limited:
Biocon Limited, publicly listed in 2004, (BSE code: 532523, NSE Id: BIOCON, ISIN Id: INE376G01013) is an innovation-led global biopharmaceuticals company committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as generic formulations in the US and Europe. It also has a pipeline of promising novel assets in immunotherapy under development. Website: www.bioconbiologics.com Follow-us on Twitter: @bioconlimited
Forward-Looking Statement
This press release may include statements of future expectations and other forward-looking statements based on management’s current expectations and beliefs concerning future developments and their potential effects upon Biocon and its subsidiaries/ associates. These forward-looking statements involve known or unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Important factors that could cause actual results to differ materially from our expectations include, amongst other: general economic and business conditions in India and overseas, our ability to successfully implement our strategy, our research and development efforts, our growth and expansion plans and technological changes, changes in the value of the Rupee and other currency changes, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the Indian and global biotechnology and pharmaceuticals industries, changes in political conditions in India and changes in the foreign exchange control regulations in India. Neither Biocon, nor our Directors, or any of our subsidiaries/associates assume any obligation to update any particular forward-looking statement contained in this release.
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