Bengaluru-based Biocon Ltd said it signed an agreement with Pfizer for global commercialisation of its biosimilar versions of insulin and insulin analog products, including recombinant human insulin, glargine, aspart and lispro. No financial details were provided.
According to the agreement, Pfizer will have exclusive rights to commercialise these products globally, with certain exceptions, including co-exclusive rights for all of the products with Biocon in Germany, India and Malaysia, Biocon said in a release.
Pfizer will also have co-exclusive rights with existing Biocon licensees with respect to some of the products. Biocon will remain responsible for the clinical development, manufacture and supply of these biosimilar insulin products, the release added.
On Tuesday, Biocon shares climbed 13% at Rs455 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.9% to 19,983 points.
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