Pfizer To Market Biocon’s Insulin Products Globally

October 19, 2010 by · Leave a Comment
Filed under: Americas, Biotech, Europe, Healthcare, JVs, Marketing, Pharma 

http://www.wcgt.in/html/assets/biocon-logo.jpgOctober 19, 2010, Bangalore, India: Bangalore-based biotech company Biocon has entered into an agreement with Pfizer, the world’s biggest pharma company, under which the latter will pay $200 million (about Rs 900 crore) to have exclusive rights to commercialize several of Biocon’s insulin products globally.

Under the agreement, Biocon is also eligible to receive from Pfizer an additional payment of $150 million towards further development of the drugs and to meet regulatory milestones. It would also receive payment linked to Pfizer’s sales of the insulin products.

The two companies came together on Monday to announce the agreement and said that Pfizer would have the rights to commercialize Biocon’s biosimilar versions of insulin and what are called insulin analog products – Recombinant Human Insulin, Glargine, Aspart and Lispro. An insulin analog is an altered form of insulin, different from any occurring in nature, but still available to the human body for performing the same action as human insulin in terms of glycemic control. Read more