Biocon Limited announced the signing of an exclusive licensing and supply agreement with Biomm S.A., a specialty pharmaceutical company in Brazil, for the commercialization of its vertically integrated drug product, Semaglutide (gOzempic), which is used to improve glycemic control in adults with type-2 diabetes. Under the terms of this agreement, Biocon will undertake the development, manufacturing and supply of the drug product, and Biomm will be responsible for obtaining regulatory approval and commercialization in the Brazilian market. Biomm is Brazil's first and only biotechnology focused company, providing high quality healthcare to patients with chronic conditions and enhancing access to the latest technologies and treatments.

The Company focuses on developing, manufacturing and commercializing complex biotech and biosimilar drug products at their state-of-the-art production facility in Nova Lima.