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Biotechnology major Biocon is altering its product commercialisation strategy by eyeing to partner with many regional players rather than joining hands with a single global pharma major.
The company which had in March this year called off a $350 million global alliance with Pfizer to commercialise its biosimilar versions of insulin and insulin analog products, said it would continue to develop its programme for global registrations as per plan.
“We remain committed to our commercialisation endeavour, albeit on a different path that will shift from a single global partner to multiple regional alliances,” Biocon Chairman and MD Ms Kiran Mazumdar Shaw said in the company’s annual report for 2011-12.
She said the company expected to extend its relationships with the existing regional partners and forge new alliances in other markets.
“Biocon will continue to develop its programme for global registrations as per plan, utilising the retained payments received from Pfizer,” Ms Shaw said.
The company is also continuing its engagement with potential partners for its licensable assets – IN -105 (oral insulin) and Itolizumab (a product aimed at treating skin diseases), she added.
Ms Shaw further said Biocon’ insulin portfolio would enable it to strike a sizable share of the biosimilar insulins market which is expected to reach $20 billion by 2020.
Earlier in March this year, Biocon and US drug major Pfizer had called off their $350 million global alliance to commercialise the Bangalore-based firm’s biosimilar versions of insulin and insulin analog products.
“The companies have agreed that due to the individual priorities for their respective biosimilars businesses, it is in their best interest to move forward independently,” the two firms had then said in a joint statement.
In October 2010, the two companies had entered into a strategic global agreement for the worldwide commercialisation of Biocon’s biosimilar versions of insulin and insulin analog products - recombinant human insulin, glargine, aspart and lispro.
Under the agreement, Pfizer was to make upfront payments of $200 million and Biocon was also eligible to receive additional development and regulatory milestone payments of up to $150 million. Besides, Biocon was eligible to receive additional payments linked to Pfizer’s sales of its four Insulin biosimilar products across global markets.
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