Both the companies have agreed to move forward independently.
As of 12 March 2012, all rights licensed to Pfizer will revert to Biocon, and all insulin distributed under the brand name Univia and Glarvia will be commercially available from Biocon.
The products will be manufactured, supplied, marketed and supported by Biocon.
Biocon chairman and managing director Kiran Shaw said the company will continue to work with its existing partners in several markets and will pursue a commercial strategy on its own and through new alliances in other markets.
Pfizer Biosimilars general manager Diem Nguyen said the company continues to be dedicated to developing a broad portfolio of biosimilars medicines, including monoclonal antibodies and recombinant proteins products, both internally and through collaborations.