Pfizer, Biocon end biosimilars deal

Biocon Ltd. (NSE:BIOCON; BSE:BIOCON) and Pfizer Inc. (NYSE:PFE) 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 that the termination is not related to Biocon's existing biosimilars deal with Mylan Inc. (NASDAQ:MYL). Biocon could not be reached for comment. Financial details of the termination are 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 existing 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. 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 added that it has five biosimilars of existing, approved mAbs in various stages of preclinical development. Biocon was off Rs16.80 to Rs250.75 on Tuesday. ...