Pfizer and Biocon scaps Insulin deal

Pfizer and Biocon said that they mutually decided to scrap the agreement, but there are concerns about similar moves in the future. “The companies have agreed that due to individual priorities for their respective biosimilars businesses, it is in their best interest to move forward independently. As on March 12, 2012, all rights licensed to Pfizer will revert to Biocon, and all insulin distributed under the brand name Univia and Glavia would be commercially available from Biocon only,” said Biocon and Pfizer in a joint statement.

“Biocon will continue to work with its existing partners in several markets and pursue a commercial strategy on its own through new alliances in other markets,” said Kiran Mazumdar Shaw, chairman and managing director, Biocon.

“We will continue to be active in our own research and business development efforts for diabetes, which represents a huge unmet medical need, and we remain committed to seeking new solutions to help physicians and patients,” said Diem Nguyen, general mamager, Biosimilars, Pfizer.