Biocon Biologics, a subsidiary of Biocon Ltd, on Thursday, May 22, said the Malaysia government has extended its current insulin supply contract by six months.
This allows the company’s Malaysian subsidiary, Biocon Sdn Bhd, to continue supplying recombinant human insulin products till October 2025.
The extension comes under the existing three-year agreement signed in 2022 between Malaysia’s Ministry of Health (MoH), Biocon Sdn Bhd and distribution partner Duopharma Marketing. The agreement was initially set to conclude in April 2025.
In an exchange filing, the company said the current contract period of 36 months has been extended “for an additional six (6) months effective from April 29 to October 28, 2025.”
Biocon Biologics has been supplying insulin products to Malaysia for nearly a decade and operates a large-scale manufacturing facility in Johor.
“These insulin products are distributed in Malaysia through its commercial partner DMktg. The company was awarded the insulin supply contract for a three-year period in 2022 through April 2025,” the filing said.
The contract extension will be officially confirmed through a supplementary agreement to be signed later by the Ministry of Health, DMktg and Biocon.
“Biocon Biologics is committed to enable affordable access to life-saving insulins to people with diabetes in Malaysia and other parts of the world,” the company added.
Biocon Ltd shares were trading 2.1% lower at ₹333.5 apiece at 11.40 am on Thursday, May 22. The stock has declined 9.5% this year, so far.
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