Biocon partner secures MYR 225m insulin tenders in Malaysia

Biocon Limited announced that its partner Duopharma Biotech Berhad has secured multiple insulin contracts from the Ministry of Health Malaysia, valued at over MYR 225 million. The contracts cover short-acting recombinant human insulin, insulin glargine, and insulin aspart, enabling Biocon's subsidiary, Biocon Sdn. Bhd., to supply these products to Duopharma (M) Sendirian Berhad for distribution. This development reinforces Biocon's presence in the Malaysian market, leveraging its integrated insulin manufacturing facility in Johor to support an estimated 4.75 million people living with diabetes in the country.

Contract Details

The agreements span multiple product categories and contract durations. The following table summarises the key terms of each contract secured from the Ministry of Health Malaysia:

Contract Type	Duration	Value
Human Insulin	3 years	~ MYR 155.27 million
Insulin Glargine	2 years	~ MYR 18 million
Insulin Aspart	2 years	~ MYR 52.5 million

These contracts align with the 13th Malaysia Plan and the New Industrial Master Plan 2030, aiming to improve healthcare outcomes through a steady supply of medicines.

Leadership Commentary

Shreehas Tambe, CEO & Managing Director of Biocon Limited, stated that Malaysia has been central to the company's insulin journey for over a decade. He highlighted that the Johor operations, which house Asia's largest integrated insulin manufacturing facility, enable the delivery of insulin at scale. Joe Sian, Site Head of Biocon Sdn. Bhd., noted that the partnership helps expand access to insulin therapies, while Encik Wan Amir-Jeffery Wan Abdul Majid, GCEO of Duopharma Biotech Berhad, emphasized the importance of robust domestic pharmaceutical manufacturing capacity for national medicine security.

Manufacturing Footprint and Partnership

Biocon Sdn. Bhd. operates its facility in Iskandar Puteri, Johor, which has seen investments of over USD 600 million since 2011. The site employs more than 1,100 personnel and holds regulatory approvals from agencies including the U.S. FDA, European Medicines Agency, and Australia's Therapeutic Goods Administration. The partnership with Duopharma Biotech, which began in 2016, has supplied over 120 million insulin cartridges to Ministry of Health facilities, supporting more than 450,000 patients in the public healthcare system.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.14%	-0.73%	-1.89%	+7.70%	+15.20%	+2.82%

Biocon Limited has detailed the Tax Deducted at Source (TDS) provisions applicable to the final dividend for the financial year ended March 31, 2026. The company’s Board of Directors recommended a final dividend of ₹0.50 per equity share, representing a rate of 10% on the face value of ₹5 each. This payout is subject to approval by shareholders at the 48th Annual General Meeting scheduled for August 6, 2026.

The dividend will be paid to shareholders whose names appear in the Register of Members as on the record date of Friday, July 3, 2026. Under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, dividends will be credited electronically only to shareholders with registered bank details. The company will withhold payment for those without updated bank information until the details are provided.

TDS Rates for Resident Shareholders

The company is required to deduct TDS as per the Income Tax Act, 2025. The applicable rates for resident shareholders vary based on category and documentation:

Section	Category	TDS Rate	Conditions
393(4)	Insurance companies	Nil	Self-declaration and IRDAI/LIC/GIC certificate required.
393(5)	Mutual Funds	Nil	Self-declaration and registration certificate required.
393(5)	Central Act Corporations	Nil	Self-declaration and exemption evidence required.
393(9)	New Pension System Trust	Nil	Self-declaration and registration certificate required.
393	Alternative Investment Fund (AIF)	Nil	Self-declaration and registration certificate required.
395	Certificate holders	As per certificate	Valid certificate for tax year 2026-27 required.
393(4)	Other Residents	Nil	Dividend does not exceed ₹10,000 or valid Form 121 submitted.
393(1)	Other Residents	10%	Shareholder holds a valid PAN.
397(2)	Other Residents	20%	Shareholder lacks PAN, has invalid PAN, or PAN not linked with Aadhaar.

Provisions for Non-Resident Shareholders

For non-resident shareholders, tax will be deducted at the rates specified below, subject to the submission of valid documents such as Tax Residency Certificates (TRC) and Form 41.

Section	Category	TDS Rate	Conditions
393	Category III AIF	10% + surcharge & cess	Self-attested PAN and registration certificate required.
395	Certificate holders	As per certificate	Valid certificate for tax year 2026-27 required.
393(2)	Non-residents/FII/FPI	20% + surcharge & cess	PAN and SEBI registration certificate required.

Non-resident shareholders may opt for beneficial rates under Double Taxation Avoidance Agreements (DTAA) if they provide a valid TRC and a self-declaration confirming tax residency and beneficial ownership.

Compliance and Documentation Deadlines

Shareholders must ensure their PAN, address, and bank details are updated with their Depository Participants or the company’s Registrar and Transfer Agent, KFin Technologies Limited. Documents such as certificates, declarations, and Form 121 must be uploaded via the designated link or sent physically to KFin Technologies Limited on or before Monday, July 20, 2026. Communications received after this date will not be considered.

In the event of incomplete documentation, tax will be deducted at the higher prescribed rate. Shareholders can claim refunds by filing income tax returns if applicable. Post-payment, TDS credits will be available in Form 168 on the income tax e-filing portal.