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Biocon Ltd. has entered into a partnership agreement with Zentiva for the commercialisation of the Liraglutide drug in the European market. Liraglutide injection is used in the treatment of Type 2 diabetes and obesity.

As per the agreement, Biocon will be responsible for manufacturing and supplying Liraglutide to Zentiva and for the commercialisation of the drug across 30 countries in Europe.

Biocon will also retain the right to commercialise this product under its own brand in the region.

Zentiva, a European pharmaceutical major, has a strong legacy in branded generics across several therapeutic areas, including diabetes, cardiology, respiratory, and oncology.

With a focus on research and development, and four flagship manufacturing facilities in Bucharest, Prague, and Ankleshwar, Zentiva is rapidly expanding its reach in Europe and beyond.

Shares of Biocon Ltd. ended 2.11 percent down at Rs 274.25.

Also Read: Biocon looks to close Viatris acquisition as soon as possible

(Edited by : Rukmani Krishna)