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Mylan, Biocon team on insulin generics
February 14th, 2013
PITTSBURGH – Mylan has entered an agreement with Biocon Ltd. to collaborate on the development and commercialization of generic versions of three insulin analog products.
Mylan said Wednesday that under the deal, it will have the rights to develop and market Biocon's 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). Mylan and Biocon will share development, capital and other costs to bring the products to market.
In addition, Mylan will have exclusive commercialization rights in the United States, Canada, Australia, New Zealand, the European Union and the European Free Trade Association countries through a profit-sharing arrangement with Biocon. Mylan will have co-exclusive commercialization rights with Biocon in certain other markets around the world.
Financial terms of the agreement weren't disclosed.
"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," stated Mylan chief executive officer Heather Bresch. "This collaboration further expands and diversifies our pipeline of complex, difficult-to-manufacture products with strong future growth potential. Importantly, we believe we have the opportunity to be one of the first generic entrants in developed markets into the rapidly growing diabetes area, helping to address unmet needs and reduce the economic burden to those battling the disease and to the global healthcare system."
Mylan reported that according to public filings, 2012 worldwide net sales of Lantus, Humalog and NovoLog were about $11.5 billion.
"Mylan is a natural preferred partner for our portfolio of generic insulin analogs and this collaboration only further strengthens our existing successful partnership," commented Kiran Mazumdar-Shaw, chairman and managing director at Biocon. "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 provide access to affordable therapy options to physicians, health care providers and diabetes patients worldwide."