Biocon announces licensing agreement with Bayer HealthCare

Biocon Ltd has announced a licensing agreement with multinational healthcare corporation Bayer HealthCare (BHC) for the exclusive marketing and trademark rights for INSUGEN® for the Chinese market. It is envisaged that the collaboration will be expanded to other countries in Asia Pacific. After completion of necessary local registration trials, INSUGEN®, a recombinant human insulin, is expected to be launched within the next two to three years in China.

Dr. Kiran Mazumdar-Shaw, Chairman & Managing Director, of the Company said, INSUGEN® has already achieved critical mass in the Indian market with substantial market share gained since launch, and increasing. The agreement with Bayer reiterates our commitment to providing biotechnology solutions to diabetes - the 21st century pandemic. We believe that Bayer is strongly positioned to achieve significant market share for INSUGEN® in China. This also signals Biocon´s entry into branded formulations in the International market".

The exclusive marketing rights and trademark agreement covers three formulations of insulin: Fast-acting (R), intermediate-acting (N), and mixed-acting, in both vials and cartridges. These apply to both Type 1 and Type 2 diabetes. This investment will create a platform for complete diabetes management and an excellent growth potential in the future for the Company and Bayer HealthCare in China and other markets.

The incidence of Diabetes is rapidly increasing in China, especially in urban areas. Currently, 40 million people in China suffer from diabetes and there are estimated 3000 new cases each day.

Source : Equity Bulls

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