Biocon Shares Open Green as it Strengthens Malaysia Presence

Shares of Biocon Ltd opened in the green and almost 1% higher on 24 June after the company announced that it has received a significant boost in its international diabetes care business. The company’s long-term partner, Duopharma Biotech Berhad, secured multiple insulin supply contracts from Malaysia’s Ministry of Health. 

The contracts, collectively valued at more than RM225 million, reinforce the strong partnership between the two companies and their commitment to improving access to affordable insulin therapies in Malaysia.

Under the agreements, Biocon’s Malaysian subsidiary, Biocon Sdn. Bhd., will manufacture and supply a range of insulin products, including short-acting recombinant human insulin, insulin glargine, and insulin aspart, while Duopharma will manage distribution across government healthcare facilities. 

The package includes a three-year contract worth RM155.27 million for human insulin and two additional two-year contracts valued at RM18 million and RM52.5 million for insulin glargine and insulin aspart, respectively.

The latest development follows several milestones achieved by the company in Malaysia over the past year. In May 2025, the Malaysian government extended Biocon’s existing insulin supply agreement by six months, highlighting the company’s role as a trusted supplier to the country’s public healthcare system. 

More recently, Biocon reported crossing the milestone of supplying over 100 million insulin cartridges in Malaysia, supporting hundreds of thousands of diabetes patients through its manufacturing facility in Johor.

According to Biocon CEO and Managing Director Shreehas Tambe, the Johor manufacturing operations enable the company to produce insulin at scale and expand patient access both within Malaysia and globally. 

Since partnering with Duopharma in 2016, Biocon has supplied more than 120 million insulin cartridges to Malaysian public healthcare facilities, helping over 450,000 patients manage diabetes. The collaboration has also expanded beyond diabetes care into oncology and ophthalmology biologics, strengthening the companies’ healthcare footprint in the region.

At 11:05 AM, the shares of Biocon were trading 0.20% higher at Rs 424.05 on NSE. 

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