NeoBiocon, a collaboration between Biocon Ltd and Dr. B.R. Shetty, Chairman of the UAE-based Neopharma, announced today that it has partnered with Novartis Middle East FZE, to market Jalra (Vildagliptin) and Jalra-M (Vildagliptin + Metformin) in UAE. This partnership will help NeoBiocon expand its product offerings in the metabolics segment and will immensely benefit diabetics in UAE.
The overall market for oral hypoglycaemic agents (OHA) in UAE is estimated to be $115 million and DPP-IV inhibitors command nearly 50% share of this market. A novel product, Vildagliptin is available both as monotherapy as well as in combination with metformin. Together Vildagliptin and Vildagliptin + Metformin commands over 30% of the DPP-IV market in UAE. NeoBiocon has received approvals from the Ministry of Health-UAE for marketing Jalra and Jalra-M in the country and the launch is scheduled for Jan 2016.
These products will be manufactured by Novartis in Europe and marketed and distributed by NeoBiocon in UAE after local release through Neopharma. Talking about the partnership, Dr. B. R. Shetty, Chairman, Neopharma, said: "We are delighted to extend our partnership with Novartis and Biocon for these novel products. Biocon's leadership in the diabetes segment will augur well for marketing these brands in UAE."