WARSAW, Poland — Iceland-based drug maker Actavis and Poland-based Bioton have formed a partnership that they said would "shake up" the diabetes market.
Actavis and Bioton announced the signing of a $73.3 million deal to develop, manufacture and commercialize insulin products, including insulin analogues. Of that, Actavis will pay $29.4 million to Bioton when the deal is signed, while the rest will consist of milestone payments.
Under the deal, Bioton will develop and manufacture the products, while Actavis will commercialize them under its brand in the United States, the European Union, Japan and several non-E.U. European countries. Both companies will sell the drugs under their respective brands in Poland.