Bangalore, Jun 29, 2009: Indian biotechnology major, Biocon has signed an agreement with US-based specialty pharmaceutical company, Mylan to develop, manufacture, supply and commercialize multiple, high value generic biologic compounds for the global marketplace.

 

Through this partnership, Mylan and Biocon bring together highly complementary capabilities that will significantly advance their efforts to secure a leading position in the emerging generic biologics industry.

As per the agreement, Mylan will have exclusive commercialization rights in US, Canada, Japan, Australia, New Zealand and in the EU and European Free Trade Association through a profit sharing arrangement with Biocon.

According to the companies, the pressure to lower healthcare costs is galvanizing governmental efforts globally to facilitate direct entry of generic biotech or protein derived drugs.

"Monoclonal antibodies are emerging as the most dominant class in biologics. Through this partnership we hope to deliver high-quality, affordable biogeneric antibodies and biologics, thereby addressing a critical need to lower spiraling health-care costs in both the developed and emerging economies,” said, Dr Kiran Mazumdar- Shaw, Biocon’s Managing Director.

Biocon expects to combine Mylan's regulatory and commercialization capabilities in the US and Europe to create a cost-effective model to address a large emerging opportunity for generic biologics, recently supported by the Obama administration.