Updated on 31 October 2012
Commenting on these results, Ms Mazumdar-Shaw said, "The positive outcome of this global phase III study is a significant milestone in our global insulin development program and will enable regulatory approvals of our recombinant human insulin products across developed and emerging markets. Human insulin is a widely accepted component of insulin therapy for diabetes patients and Biocon's human insulin, will present an affordable alternative to the patients worldwide. These data along with the recent PK-PD data for our insulin glargine (BASALOG(R)) demonstrate our commitment to pursue our global insulins strategy and deliver affordable therapy to the patients."
"This was our first global study for rh-Insulin and we are pleased with the outcome," said Dr Abhijit Barve, President Research and Development of Biocon. "These data and our recent positive PK-PD data for Biosimilar Glargine enable us to pursue our global development strategy for Biosimilar Insulins."
In another development, GE Capital has agreed to invest in Syngene. GE Capital will invest approximately $23 million* (Rs 125 crore) for a 7.69 percent equity share in the Biocon subsidiary.
*Dollar conversion according to current rate