Shares of Biocon Ltd fell 2% after touching a day’s excessive of Rs 340.60 on twenty second Might, regardless of the agency saying the Malaysian authorities has prolonged its present insulin provide contract by six months.
Biocon’s insulin provide contract in Malaysia has been prolonged by six months, legitimate till twenty eighth October, 2025.
This extension is a part of the three-year deal signed in 2022 with Malaysia’s Ministry of Well being and distribution accomplice Duopharma Advertising.
Biocon’s Malaysian subsidiary, Biocon Sdn Bhd, provides recombinant human insulin and runs a big manufacturing facility in Johor.
The contract extension will likely be formalised by way of a supplementary settlement involving the Ministry of Well being, Duopharma Advertising, and Biocon.
Biocon Biologics has been supplying insulin in Malaysia for practically a decade. The corporate goals to supply inexpensive insulin entry in Malaysia and globally.
At 12:04 PM, the shares of Biocon Ltd have been buying and selling 1.97% decrease at Rs 333.95 on NSE.
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