According to the strategic collaboration, Mylan gains rights to develop and market Biocon’s Glargine, Lispro and Aspart.
Glargine, Lispro and Aspart are the generic equivalents to Sanofi’s Lantus, Eli Lilly and Company’s Humalog and Novo Nordisk’s NovoLog respectively.
Mylan CEO Heather Bresch said, "This collaboration further expands and diversifies our pipeline of complex, difficult-to-manufacture products with strong future growth potential."
Both the companies will share development, capital and few other costs for the commercialization of the products.
Mylan holds exclusive commercialization rights to the products, through a profit-share arrangement, in US, Canada, Australia, New Zealand, the European Union and the European Free Trade Association countries, while holding co-exclusive commercialization rights with Biocon in certain other markets.
Biocon chairman and managing director Kiran Mazumdar-Shaw said, "Mylan is a natural preferred partner for our portfolio of generic insulin analogs and this collaboration only further strengthens our existing successful partnership."
Further transaction terms have not been revealed.