14 Feb 2013, Narayanan Suresh , BioSpectrum
Bangalore: India's No 2 biotech company, Bangalore-based Biocon has announced a strategic partnership with global generics major, Mylan, based in Pittsburgh, US, to sell its three insulin analog products in major markets such as the US, Europe, Canada, Australia and New Zealand.
The strategic partnership will expand the reach of three of Biocon's generic insulin products, including Glargine (the generic version of Sanofi's Lantus), Lispro (the generic version of Eli Lilly's Humalog) and Aspart (the generic version of Novo Nordisk's NovoLog). Biocon's recombinant insulin product, Insugen, is not covered by this agreement. The three insulin analogs have combined global sales of $ 11.5 billion. With this partnership, Biocon can hope to have a small share of the global market riding on Mylan's extensive distribution network.
Biocon's chairman and managing director, Dr Kiran Mazumdar-Shaw, said that, "Mylan is a natural preferred partner for our portfolio of generic Insulin analogs and this collaboration further strengthens our existing successful partnership. We are excited to team up with Mylan to be able to cost effectively address the disease and economic burden that diabetes poses to global health. We are confident that together we can build a strong global presence in generic Insulin analogs and thereby provide access to affordable therapy options to physicians, healthcare providers and diabetes patients worldwide."
Mylan CEO Ms Heather Bresch commented, "This collaboration builds off of our existing successful partnership for generic biologics with Biocon and brings Mylan a portfolio of high-value insulin analog products. This collaboration further expands and diversifies our pipeline of complex, difficult-to-manufacture products with strong future growth potential."
Mylan has been partnering with Biocon for the past three years to market the Indian company's non-insulin biogenerics products. These insulin analogs will add to Mylan's global portfolio of generics, particularly in the fast growing segment of diabetes. Added Mylan President, Mr Rajiv Malik: "Biocon has served as a trusted development partner for the past three years and we are very excited about this expanded relationship. Our thorough review of the development work completed by Biocon to date on these products gives us great confidence in the company's capabilities in this area and in the quality and value of this program."
According a press statement issued by Biocon today, both the companies will share development, capital and certain other costs to bring the products to market. Mylan will have exclusive commercialization rights in the US, Canada, Australia, New Zealand, the European Union and the European Free Trade Association countries through a profit share arrangement with Biocon. Mylan will have co-exclusive commercialization rights with Biocon in certain other markets around the world.