NEW YORK — Pfizer and Indian drug maker Biocon have ended a partnership that the companies started in 2010 to develop biosimilar treatments for diabetes, the companies said.
The companies terminated the deal, which would have been worth up to $350 million, to develop biosimilar versions of insulin and insulin analog products, with Biocon manufacturing the products and Pfizer would market them. As of Monday, all rights that Biocon licensed to Pfizer, including to products distributed under the Univia and Glarvia brands, reverted back to Biocon, India's largest biotechnology company.
"Biocon remains committed to delivering its biosimilar insulins portfolio to global markets in its endeavor to make a difference to diabetic patients across emerging and developed economies," Biocon chairman and managing director Kiran Mazumdar Shaw said. "Biocon will continue to work with its existing partners in several markets and will pursue a commercial strategy based on its own and through new alliances in other markets."