Biocon Limited has announced the signing of an out-licensing agreement with Ajanta Pharma Ltd to market its drug product, Semaglutide, which is used to improve glycemic control in adults with type-2 diabetes. Under the terms of the agreement, Biocon will supply Semaglutide to Ajanta for exclusive marketing in 23 countries and semi-exclusive marketing in 3 countries across Africa, the Middle East, and Central Asia. Ajanta Pharma, a specialty pharmaceutical formulations company, has a strong presence in these regions. Siddharth Mittal, CEO and MD of Biocon Ltd., stated that this partnership is a strategic step to expand the global footprint of Biocon’s GLP-1 portfolio and maximize the value of their scientific investments. He added that the collaboration will enable broader and more affordable access to Semaglutide for patients in these regions. Yogesh Agrawal, MD of Ajanta Pharma Ltd, expressed excitement about partnering with Biocon for Semaglutide, emphasizing its potential as a blockbuster product and Ajanta's strong on-ground presence in the target markets.