Mylan extends deal with Biocon to biosimilar insulins, as Actavis pulls out of JV

US generic drugmaker Mylan (Nasdaq: MYL) said yesterday that it has entered into a definitive agreement with Indian biopharma company Biocon for an exclusive strategic collaboration on the development and commercialization of generic versions of three insulin analog products.

Mylan chief executive Heather Bresch commented: "This collaboration builds off of our existing successful partnership for generic biologics with Biocon and brings Mylan a portfolio of high-value insulin analog products. This collaboration further expands and diversifies our pipeline of complex, difficult-to-manufacture products with strong future growth potential. Importantly, we believe we have the opportunity to be one of the first generic entrants in developed markets into the rapidly growing diabetes area, helping to address unmet needs and reduce the economic burden to those battling the disease and to the global healthcare system."

Under the terms of this collaboration, Mylan will have the rights to develop and market Biocon's Glargine (the generic version of Sanofi's Lantus [insulin glargine]), Lispro (the generic version of Eli Lilly’s Humalog [insulin lispro]) and Aspart (the generic version of Novo Nordisk's NovoLog [insulin aspart (rDNA origin) injection]). According to public filings, reported worldwide net sales of Lantus, Humalog and NovoLog for 2012 were approximately $11.5 billion, said Mylan.