Biocon Ltd, a leading biopharmaceutical company, has entered into a semi-exclusive distribution and supply agreement with Mexico-based Medix for the commercialization of its drug Liraglutide (gSaxenda), used in the treatment of chronic weight management. This strategic collaboration aims to address the growing burden of obesity in Mexico by providing affordable access to effective medication.
Under the terms of the agreement, Biocon will be responsible for obtaining regulatory approval, manufacturing, and supplying the drug, while Medix will oversee its commercialization in the Mexican market. This partnership leverages Biocon’s expertise in drug development and manufacturing with Medix’s extensive experience in addressing overweight and obesity issues in Mexico.
Commenting on the collaboration, Siddharth Mittal, CEO, and Managing Director of Biocon, expressed his commitment to providing affordable access to their product for patients dealing with obesity in the region. He emphasized Biocon’s efforts to work closely with Medix to expedite the commercialization process and make the drug available to those in need.
Medix, with over 70 years of experience in developing solutions for overweight and obesity, aims to improve the quality of life for patients in Mexico, where approximately 70% of the population is affected by these conditions. Carlos Abelleyra, CEO of Medix, highlighted the significance of this partnership in addressing the high prevalence of overweight and obesity in Mexico, as reported by the World Health Organization (WHO).
According to IQVIA MAT Q4 2023 data, the total addressable market opportunity for Liraglutide for obesity indication in Mexico is estimated to be approximately USD 37 million. This collaboration between Biocon and Medix is poised to make a significant impact in combating the obesity epidemic in Mexico by providing accessible and effective treatment options for patients.
As both companies work together to bring quality and affordability to the pharmacological options available for physicians, they aim to support the vision of improving healthcare outcomes and enhancing the well-being of individuals affected by obesity in Mexico.
