Biocon enters pact with Mexican firm to market generic human insulin in US1 min read . Updated: 17 Mar 2016, 07:29 PM IST
Biocon entered into a co-development and commercialization agreement with PiSA for generic recombinant human insulin for the US market
Hyderabad: Biopharmaceutical firm Biocon Ltd on Thursday said it has entered into a co-development and commercialization agreement with Mexican drug maker Laboratorios PiSA S.A. de C.V (PiSA) for generic recombinant human insulin (rh-insulin) for the US market.
This is a cost and profit sharing agreement, with Biocon being responsible for clinical development, regulatory approvals and commercialisation of the product in the US, the company said in a statement to stock exchanges.
The drug substance will be made by Biocon, while the drug product will be made by PiSA at its Mexico facility.
Shares of Biocon gained 0.21% and were trading at ₹ 474.90 at 9.22 am on BSE, while the benchmark Sensex index rose 1.04% and was trading at 24,940.29 points.