Mylan teams up with Biocon to secure position in generic biologics market

PITTSBURGH A popular generic drug maker has announced a collaboration with a company focusing on unmet medical needs in cancer, diabetes and inflammatory diseases.

Mylan announced its partnership with Biocon, a publicly traded company on the Indian stock exchange, in development, manufacturing, supply and commercialization of multiple, high-value generic biologic compounds for the global marketplace.

The recent collaboration is anticipated to better secure the companies’ leading positions in the emerging generic biologics industry.

"This unique collaboration combines Biocon's scientific expertise; excellent product development track record; appreciation of complex regulatory requirements; and state-of-the-art, cost-efficient and scalable biologics manufacturing with Mylan's one-of-a-kind global commercial footprint and our regulatory expertise around the world," said Robert Coury, chairman and CEO at Mylan. "Biocon also has a unique corporate culture that is very similar to Mylan's," he added.

"All of these attributes will provide a critical synergy and create a strong and effective long-term partnership," Coury continued. "Generic biologics, especially monoclonal antibodies, are expected to become the next great bolus of growth in the generic pharmaceutical industry, and through this alliance, Mylan and Biocon have covered all four corners of what any organization would want or need to have secured to offer a highly competitive and distinct generic biologics product portfolio with tremendous growth potential for the coming decade.”

Under the partnership, Mylan and Biocon will share development, capital and certain other costs to bring products to market. Mylan will have exclusive commercialization rights in certain areas through a profit-sharing arrangement with Biocon. Financial terms and product details were not disclosed.