Biocon, Pfizer ink Rs 900 crore pact

Biocon, Pfizer ink  Rs 900 crore pact

Pfizer Established Products Business Unit President & GM David Simmons with Biocon chief Kiran Mazumdar Shaw.

According to the agreement, Pfizer will have exclusive rights to commercialise these products globally, including co-exclusive rights for all of the products with Biocon in Germany, India and Malaysia. Pfizer will also have co-exclusive rights with existing Biocon licensees to some of the products, primarily in developing markets.

Pfizer will make upfront payments totaling $200 million (Rs 900 crore) to Biocon which is also eligible to receive additional development and regulatory milestone payments of up to $150 million and receive additional payments linked to Pfizer’s sales of its four Insulin biosimilar products across global markets. Biocon will remain responsible for clinical development, manufacture and supply of these biosimilar Insulin products.

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