Bangalore-based biotech major, Biocon Limited today announced that it has executed a definite agreement with Mylan Inc, for an exclusive collaboration on the development, manufacturing, supply and commercialisation of mulitple, high value generic biologic compounds for the global marketplace.
Through this partnership, Mylan and Biocon will bring together highly complementary capabilities that will significantly advance their efforts to secure a leading position in the emerging generic biologics industry, Biocon informed in a press release today.
Commenting on the agreement, Kiran Mazumdar Shaw, chairperson, Biocon said, "Biocon is extremely pleased to have found a partner as strong as Myland to accelerate our work in generics biologics and take it to the next level around the world, especially in regulated markets. I am sure this collaboration will be remarkable success while bringing additional value to Biocon and its shareholders. Monoclonal antibodies are emerging as the most dominant class in biologics.
Through this partnership we hope to deliver high quality, affordable bio-generic antibodies and biologics, thereby addressing a critical need to lower spiraling healthcare costs in both the developed and emerging economies."
As part of this collaboration, Mylan and Biocon will share development, capital and certain other costs to bring products to market. Mylan will have exclusive commercialisation rights in the US, Canada, Japan, Australia, New Zealand and in the European Union and European Free Trade Association countries through a profit with Biocon in all other markets around the world.
All other financial terms and product details have not been disclosed by the company.
