Biocon, a leading biotechnology company, announced today that it has won a U.S. court ruling that invalidated a Sanofi patent on the Insulin Glargine device , removing a key legal hurdle to commercializing Semglee (Insulin Glargine) co-developed with Mylan, in the U.S. 

The U.S. District Court of New Jersey found the device patent claims asserted by Sanofi against Biocon and Mylan's Insulin Glargine product 'not infringed' and 'invalid' for lack of written description. Separately, as previously announced, Sanofi's formulation patents were previously affirmed to be invalid by the Federal Circuit.

The company remains confident of being able to commercialize the product in calendar year 2020. The market opportunity for Insulin Glargine in the U.S. is estimated at USD 2.2 billion. Dr Christiane Hamacher, CEO, Biocon Biologics said,

''We are extremely pleased with the U.S. court ruling in favour of our Insulin Glargine device as this takes us closer towards bringing a more affordable Insulin Glargine for patients with diabetes in the U.S. Biocon Biologics remains committed to use its science, scale and expertise to shift the access paradigm for patients in need of insulins across the globe.''

Shares of the company declined Rs 22.6, or 7.62%, to settle  at  Rs 273.80.  The total volume of shares traded  was 3,71,127 at  the BSE.