Pfizer and Biocon cancel biosimilars deal

14 March 2012

Indian biotech firm Biocon (BSE: 532523) and global drugs behemoth Pfizer (NYSE: PFE) yesterday announced that they have called off their alliance to commercialize Biocon's biosimilar versions of Insulin and Insulin analog products, Recombinant Human Insulin, Glargine, Aspart and Lispro.

The companies have agreed that, due to the individual priorities for their respective biosimilars businesses, it is in their best interest to move forward independently.

Under their original accord, Pfizer made upfront payments totaling $200 million, with Bangalore-based Biocon also eligible to receive additional development and regulatory milestones of up to $150 million as well as payments linked to Pfizer's sales of its four Insulin biosimilar products across global markets (The Pharma Letter October 19, 2010).

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK