Germany-based Bayer Schering Pharma has signed a supply and distribution agreement with the Polish insulin producer, Bioton and its Singapore subsidiary, SciGen, to strengthen its pharmaceutical product portfolio.
The company reports that for an up-front payment of E31 million, Bayer acquires the exclusive right to market and distribute insulin produced by Bioton under the trade name of SciLin in China.
Janusz Guy, CEO of Bioton, said: “With this agreement for long-term collaboration Bioton has materialized one of its strategic goals to develop its strong international position on growing insulin markets via alliances with leading pharmaceutical companies. We emphasize our position as a recognized leader in insulin production. Bayer is our partner of choice.”