Pfizer And Biocon Dissolve Pact

Less than two years after teaming to develop biosimilar versions of insulin, Pfizer and India’s Biocon are parting ways. In October 2010, Pfizer forked over $200 million up front for the marketing rights to four Biocon insulin products; Biocon was eligible for another $150 million in milestones as the drugs were to be launched around the world. Last week, the companies said that as a result of “individual priorities for their respective biosimilars businesses, it is in their best interest to move forward independently.” Biocon regains the rights to all insulin products and says it will try to commercialize those products globally on its own or through new alliances.