Business Standard reported that Strides Pharma could get access to the insulin market as Stelis Biopharma, in which it is in the process of acquiring a controlling stake, is building an integrated insulin and insulin analogue platform with proprietary technology.
According to the news source, Strides believes Stelis could be a "disruptor" in terms of insulin accessibility and affordability.
Strides may commercialise the insulin coming out of the R&D facility in the future, but has not set a timeline for that, the news source said.
Strides, which currently owns a 43% stake in Stelis, is reclaiming control of the company, five years after it sold its stake to GMS Holdings, and is investing an additional $40 million into the firm as well.
Biocon recently announced that it would be reducing the rates of insulin from the current $5 Rs to 7 cents per day for lower- and middle-income countries, including India.