Mumbai, June 16 -- Indian drugmaker Biocon Ltd. is aiming to become the world's top supplier of insulin in the coming years, co-founder Kiran Mazumdar-Shaw said, by capturing growing demand for the critical diabetes drug while Big Pharma shifts its focus to GLP-1.

"In five years, we could be the number one insulin company in the world," the 73-year-old pharma billionaire and executive chairperson said in an interview with Bloomberg TV's Latitude with Haslinda Amin. "We are one of the few companies globally that has the scale to address that opportunity."

Biocon makes generic drugs and biosimilars, which are biological medicines that are highly similar to brand-name drugs and typically sold for lower prices. The Bengaluru-based company i...