Biocon launches interchangeable Semglee, Insulin Glargine in US
News: Biocon and Viatris have launched interchangeable biosimilars semglee injection (branded) and insulin glargine injection (unbranded) in US. The launches are indicated for adult and paediatric patients with type 1 diabetes and adults with type 2 diabetes. Both biosimilar products will be available as interchangeable for the reference brand, lantus (insulin glargine), allowing for substitution at the pharmacy counter.
Views: Launch of interchangeable biosimilar insulins in the US on back of 1) listing of both Semglee and Insulin Glargine as a preferred insulin over the Lantus brand by Prime Therapeutics on its national formularies (serves ~ 33 million lives), 2) listing of Semglee as a preferred insulin brand by Express Scripts on its national preferred formulary (Serves ~ 28 million), is a positive step in the direction towards ensuring availability of these launches effective January 1, 2022 and garner market share. We remain positive on the potential gains for Biocon through interchangeability route and have factored in these developments for our estimates