Pfizer inks deal with Biocon
NEW YORK Pfizer has entered the world of biosimilars through a deal with India-based Biocon to distribute versions of insulin and insulin analog products around the world, the companies said Monday.
Under the agreement, Pfizer will have worldwide exclusive rights to commercialize recombinant human insulins glargine, aspart and lispro, which are, respectively, biosimilars of Sanofi-Aventis’ Lantus, Novo Nordisk’s NovoLog and Eli Lilly’s Humalog. The deal also includes agreements to commercialize the products alongside Biocon in Germany, India and Malaysia.
Pfizer will pay Biocon $200 million upfront, as well as milestone payments of up to $150 million and royalties. Biocon will be responsible for clinical development, manufacture, supply and gaining regulatory approval.