The Indian company has signed a deal with US-based Invitrogen, who will market the insulin for Biocon.
While insulin is known largely for its role as a treatment for diabetes, insulin is also a potent growth factor and is useful in mammalian cell cultures as it delays programmed cell death.
"Bioprocess scientists have increasingly used insulin to enhance their cell culture, but can only access the pharmaceutical-grade insulin in bulk quantities from a few suppliers," Invitrogen vice president of bioproduction Jeff Greenberg said in a statement.
"Invitrogen and Biocon are now offering a competitive alternative which scientists, process engineers and manufacturers can confidently use to increase the productivity of their biological therapeutics."
Biocon will manufacture the insulin at its facility in Bangalore, where the recombinant human insulin is derived from an animal-origin-free-cell bank and is processed using porcine trypsin, removing the risk of contamination from Bovine Spongiform Encephalopathy.
The insulin would be supplied in manufacturing quantities of 25kg or more.
Biocon head of North American operations Abhijit Zutshi said in a statement : "Invitrogen has a well-established reputation in the cell culture market for providing the best reagents.
Their confidence in our insulin is an excellent endorsement of its quality, and we are proud to have them as our exclusive partner worldwide."
The insulin announcement represents a move for the company as it focuses its portfolio more on core bio-pharmaceuticals.
The company announced today it was divesting its enzymes business to Novozymes for $115m.
The enzyme business includes a broad range of industrial enzymes, food additives and process aids, and the transaction is expected to be completed by the end of the third quarter of this year.
Upon completion of the transaction, Biocon will focus on active pharmaceutical ingredients (APIs), biologicals and proprietary molecules both commercialized and under development.
Biocon managing director and chairwoman Kiran Mazumdar-Shaw said in a statement: "Over the past decade we have clearly recognized the high growth trajectory of our bio-pharma business verticals and have progressively invested to build proprietary know-how and global scale.
We believe this is the right time to divest out enzyme business and focus on unleashing the full potential of our bio-pharma businesses."
In the recent financial report for the quarter ending June 30, the company noted the biopharma sector was performing particularly strongly.
Biocon's enzyme business will be integrated into Novozymes South Asia, but production and formulation will continue at the Biocon site under lease and service agreements with Novozymes.
Biocon has also signed an exclusive licensing deal with an undisclosed biopharmaceutical company to develop and market a bio-similar version of granulocyte-colony stimulating factor in North America and the EU.
Biocon was unavailable for comment at time of press.