Biocon Limited has announced that it has executed a definitive agreement with Mylan for an exclusive collaboration on the development, manufacturing, supply and commercialisation of generic biologic compounds.
Biocon believes that the generics segment in the pharmaceutical industry, which is currently based almost entirely on chemically synthesized drugs, is ‘poised for a changing paradigm’ and that bio-generics in the emerging markets are expected to grow from the current estimate of $40 billion at a rate projected by some firms of over 20% a year over the next five years.
As part of the collaboration, Mylan and Biocon will share development, capital and certain other costs to bring products to market. Mylan will have exclusive commercialisation rights in the US, Canada, Japan, Australia, New Zealand and in the European Union and European Free Trade Association countries through a profit sharing arrangement with Biocon. Mylan will have co-exclusive commercialisation rights with Biocon in all other markets around the world. All other financial terms and product details remain confidential.
Biocon has signed alliances with a number of biopharmaceutical companies including Abraxis BioScience, Bentley Pharmaceuticals, Bristol-Myers Squibb, IATRICa, Innate Pharmaceuticals, Neopharma and Sapient Discovery.
