Biocon, Asia's premier biotechnology company has entered into a definitive agreement with Mylan for an exclusive strategic collaboration for the global development and commercialization of generic versions of its three insulin analog products.
Under the terms of this collaboration, Mylan 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 CEO 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. 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."
In 2009, Biocon had entered into an agreement with Mylan for an exclusive collaboration on the development, manufacturing, supply and commercialization of multiple, high value generic biologic compounds.
Biocon's Chairman & Managing Director, Kiran Mazumdar-Shaw said "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."