Bengaluru: Biotechnology major Biocon on Tuesday opened a facility to manufacture devices for its insulin portfolio.
Spread over 10,000 square feet, the facility will manufacture pen like delivery devices for people with diabetes in India and other parts of the world, Biocon Ltd said in a statement.
"Our aim is to provide insulin products to at least one in five insulin-dependent diabetes patients, anywhere in the world. This new device facility is a key milestone in our journey towards that goal," Biocon chairperson & managing director, Kiran Mazumdar-Shaw said.
The facility will enable us to not only fulfil our commitment to 'Make in India for the World' but also deliver on the promise of affordable access to healthcare for all, she added.
The global insulin delivery devices market, estimated at $9.4 billion in 2014, is expected to grow at a CAGR of 7 per cent to reach an estimated $14.1 billion in 2020.