Biocon, Pfizer Enter Biosimilar Commercialization Pact

Biocon and Pfizer have entered into a strategic agreement for the worldwide commercialization of Biocon’s biosimilar versions of Insulin and Insulin analog products: recombinant human insulin, Glargine, Aspart and Lispro. Pfizer will have exclusive rights to commercialize these products globally, with co-exclusive rights in Germany, India and Malaysia. Pfizer will also have co-exclusive rights with existing Biocon licensees for some of the products, primarily in developing markets.

Biocon will be responsible for the clinical development, manufacture and supply of these biosimilar insulin products, as well as for regulatory activities. Pfizer will make upfront payments totaling $200 million. Biocon is also eligible to receive additional development and regulatory milestone payments of as much as $150 million, as well as payments based on sales of its four insulin biosimilar products across global markets.