BENGALURU: India’s biopharma major Biocon Ltd has announced the launch of an insulin glargine called Semglee, in partnership with global pharma firm Mylan. Insulin glargines are man-made versions of human insulin. Semglee is used to treat Type-1 diabetes in adults and children above the age of six years, and Type-2 diabetes. The insulin biosimilar would be available in Australia under the Pharmaceutical Benefit Scheme (PBS) that helps manage the growing costs of that country’s healthcare.
Biosimilars have revolutionised global pharma markets by offering cheap alternatives in treatment of chronic disorders such as diabetes. The total annual cost of the impact of diabetes in Australia is estimated to be worth $14.6 billion. Nearly 200 million people in Australia suffer from diabetes and 280 are diagnosed of the disease daily.
The Australian government had in 2018 announced $5 million to undertake activities that facilitate the prescribing, dispensing and use of biosimilar medicines under the Biosimilars Awareness Initiative.
“As a leading global insulin player, Biocon has been addressing the needs of patients with diabetes for over 15 years and we are confident that availability of Semglee through the Pharmaceutical Benefits Scheme will expand patients’ access to this therapy in Australia and reduce the cost burden for PBS,” said Christiane Hamacher, CEO, Biocon Biologics.