As per the agreement, both companies will share development and other costs to bring these products to the market. The financial agreement mirrors earlier deal with Mylan.
Kiran Mazumdar, CMD, Biocon, in an interview to CNBC-TV18, says that from this deal the company will receive licencing fees from Mylan.
Also Read: Biocon shrs rise on insulin products deal with Mylan
Below is the edited transcript of his interview to CNBC-TV18.
Q: Could you brief us with some details of the agreement that your company signed with Mylan, in terms of milestone structure and profit sharing agreement reached between the two companies?
A: For Biocon, it is a significant deal and we are delighted to have Mylan as our partner for these programmes. The licensing arrangement is for three bio-generic insulin analogs, namely Glargine, Lispro and Aspart.
I cannot share details of our financials of this program, they are mirror to what we have done with Mylan in our previous biosimilar biologics portfolio. This is a code development deal where Mylan and Biocon will share development cost for bringing these products to the market. Mylan will also contribute towards capex on the ongoing project that we have in Malaysia and our company will receive licensing fees for these programmes.
Q: Without mentioning any numbers, could you tell us if there could be any milestone payments on this deal and what stage of development are these products that you are talking about in the geographies that you could potentially be launching?
A: It is not structured along milestone payment deal, but Glargine has completed Phase I Pharmacokinetics and Pharmacodynamics (PK/PD) studies and it is all set to enter Phase III. Lispro and Aspart are also set to enter the clinic very soon. These programmes are on track to tap the market opportunity of about USD 11.5 billion that is present for these programmes currently.
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