Pfizer Enters Biosimilars Market With Biocon Diabetes Deal
October 27, 2010
Diving into the biosimilars market, Pfizer inked a collaborative deal this month with India-based Biocon aimed at gaining an edge on the generics market for diabetes products that will expand after 2014 due to patent expirations. The agreement gives Pfizer worldwide exclusive rights to market Biocon’s biosimilar versions of top-selling insulins. Under the arrangement, Pfizer will pay Biocon $200 million upfront and up to $150 million for development and regulatory milestones. Biocon also will receive payments related to Pfizer’s sales of the insulin biosimilar products.