As reported in BioJobBlog and Fierce Biotech, Pfizer has struck a licensing deal, worth as much as $350 M, with Biocon for access to its rec human insulin and rec insulin analog products (Glargine, Aspart, and Lispro). Pfizer says the deal will help it implement its strategy to get more heavily into the biosimilar market. Pfizer will have co-exclusive rights to market these products in Germany, India and Malaysia - the latter two being important to the strategy of expanding in pharmerging markets.
Pfiser will pay Biocon $200 M upfront for access to the products and the Indian producer can earn up to another $150 M in milestones. BioCon already has similar deals (for other products) with several members of the Big Pharma club, inlcuding Eli Lilly, Novo Nordisk and GSK.
According to livemint.com, the India Mubai exchange dropped 0.9% this morning, but BioCon stock hit records highs - soaring 15.4% - on the Pfizer news. And from Pharmainfonet, Novo Nordisk,world's largest insulin maker, shares dropped 4.4% on Copenhagen market based on fears of more competition from Pfizer.
Posted by Bruce Lehr October 19th 2010.