Biocon will also retain the right to market this product under its own brand in the region.
Biocon Ltd. entered into a partnership agreement with Zentiva for the marketing of the drug Liraglutide on the European market. Liraglutide injection is used in the treatment of type 2 diabetes and obesity.
Under the agreement, Biocon will be responsible for manufacturing and supplying Liraglutide to Zentiva and marketing the drug in 30 countries across Europe.
Biocon will also retain the right to market this product under its own brand in the region.
Zentiva, a major European pharmaceutical company, has a strong heritage in branded generics in several therapeutic areas, including diabetes, cardiology, respiratory and oncology.
With a focus on research and development and with four flagship manufacturing plants in Bucharest, Prague and Ankleshwar, Zentiva is rapidly expanding its reach in Europe and beyond.
The shares of Biocon Ltd. ended down 2.11% at Rs 274.25.
(Edited by : Rukman Krishna)