Biocon plans to bring down the cost of insulin to 10 cents (roughly Rs 7) from the $ 5 (Rs 350) currently.“Biocon will make its recombinant human insulin available at less than 10 cents per day in low and middle income countries. These countries contribute to 80% of the global diabetes burden. In comparison, the current US list price in retail is more than $5 / day or more,” said Kiran Mazumdar Shaw, chairperson and managing director, Biocon at UNAIDS Health Innovation Exchange in New York.Shaw said accessibility of insulin has been a major concern over the years due to its escalating price.The Bengaluru-headquartered biotech firm said it is “committed” to reducing the price of insulin “even further” through partnerships with agencies such as World Health Organisation (WHO) in order to break the barrier to access in certain geographies which are “too poor to deal with the challenge of diabetes on their own”.Diabetes is a global pandemic that affects nearly half a billion people and four out of five diabetic patients live in low and middle income countries, said the Biocon chairperson. “(Frederick) Banting and (Charles) Best (the duo who discovered insulin) gave us this pivotal breakthrough hormone that saves millions of diabetics each year. Despite its universal availability for the last 97 years, it is yet to be universally accessible.”Studies on price and availability of insulin conducted in multiple developing countries including India in 2016 stated that the average government procurement prices for human insulins were $5 and the median price considering three sectors - public, private pharmacies and private hospitals or clinics - were $9. The studies were conducted using WHO’s price and availability measurement methodology.UNAIDS has welcomed the decision to offer recombinant human insulin at US$ 0.10 per day (for the average 40 units of insulin that is required per patient per day) to low-and middle-income countries, a reduction of 50% from current prices.Shaw said at the UNAID health innovation exchange while India has embarked on a path to provide universal healthcare to its citizens through an “ambitious programme” called Ayushman Bharat, which aims to serve the poorest families in first phase and then take every citizen; her company gives significant importance to universal healthcare, addressing the needs of diabetics and cancer patients through its products and services.