ARTICLE | Company News

Biocon endocrine, biosimilars news

May 9, 2011 7:00 AM UTC

Biocon disclosed in its 2010 earnings that it will divest its 78% stake in its AxiCorp GmbH subsidiary to existing AxiCorp shareholders. AxiCorp had German commercialization rights for Biocon's biosimilar insulin and glargine under a 2008 deal, which will revert to Biocon. Biocon acquired a 70% stake for €30 million ($43.5 million) in cash in 2008 (see BioCentury, Feb. 18, 2008). ...