Biocon, Pfizer deal

Biocon and Pfizer terminated a 2010 deal to market Biocon's biosimilar versions of insulin and insulin analog products, including recombinant human insulin, glargine, aspart and lispro. The companies said that "due to the individual priorities for their respective biosimilars businesses, it is in their best interest to move forward independently." Pfizer said the termination is not related to Biocon's biosimilars deal with Mylan Inc. (NASDAQ:MYL, Canonsburg, Pa.). Biocon said it "remains committed" to the biosimilars space and will seek new partners for Europe, the U.S. and other territories included in the Pfizer deal "at the appropriate time." Biocon said it received $100 million upfront under the deal and a "substantial amount" of an additional $100 million. Financial terms of the termination were not disclosed. Under the deal, Pfizer and Biocon shared co-exclusive rights in Germany, India and Malaysia, while Pfizer had exclusive rights elsewhere, except in a number of developing markets where Pfizer shared rights with Biocon partners. All of Pfizer's rights will revert back to Biocon, and all insulin distributed under the brand names Univia and Glarvia will now be exclusively manufactured and marketed by Biocon. The 2010 deal did not include oral insulin (see BioCentury, Oct. 25, 2010).

Pfizer said it "continues to be dedicated to developing a broad portfolio of biosimilars medicines, including monoclonal antibodies and recombinant proteins products, both internally and through collaborations." The pharma said it has five biosimilars of approved mAbs in preclinical development. ...