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Pfizer takes Biocon help to re-enter into $14bn global insulin market

Almost four years after scrapping its Exubera inhaler New York-based Pfizer is planning to return to the $14bn global insulin market by leveraging the India-based biopharmaceutical company Biocon’s enzyme making skills.

Pfizer has already paid $200m to Biocon, as part of the agreement signed between them in October 2010, to get access to the supply of four generic insulin products in emerging markets, including India and Brazil, and then the US and other developed nations, bloomberg.com reported.

Pfizer will have exclusive rights to commercialize Biocon’s biosimilar versions of Insulin and Insulin analog products: Recombinant Human Insulin, Glargine, Aspart and Lispro globally, with certain exceptions, including co-exclusive rights for all of the products with Biocon in Germany, India and Malaysia.

Pfizer will also have co-exclusive rights with existing Biocon licensees with respect to some of the products, primarily in a number of developing markets.

Biocon will remain responsible for the clinical development, manufacture and supply of these biosimilar Insulin products, as well as for regulatory activities to secure approval for these products in various geographies.

Pfizer is expected to sell Biocon’s insulin under its own brand in the second half of 2011.