Biocon and Pfizer conclude commercialization agreement
Thursday, March 15, 2012
The companies have agreed that due to the individual priorities for their respective biosimilars businesses, it is in their best interests to move forward independently. As of March 12, 2012, all rights licensed to Pfizer reverted to Biocon, and all insulin distributed under the brand name Univia and Glarvia were commercially available, exclusively manufactured, supplied, marketed and supported by Biocon.
“Biocon remains committed to delivering its biosimilar insulin portfolio to global markets in its endeavor to make a difference to diabetic patients across emerging and developed economies,” said Kiran Mazumdar Shaw, chairman and managing director, Biocon. “Biocon will continue to work with its existing partners in several markets and will pursue a commercial strategy on its own and through new alliances in other markets.”
“In addition, [Pfizer] will continue to be active in our own research and business development efforts for diabetes, which represents a huge unmet medical need, and we remain committed to seeking new solutions to help physicians and patients,” said Diem Nguyen, general manager of biosimilars, Pfizer.