) extended its three-year old partnership with India-based Biocon
Limited. The companies recently signed a definitive agreement to
develop and commercialize the generic versions of three insulin
As per the terms of the agreement Mylan will have the rights
to develop and commercialize Biocon's Glargine, Lispro and
Aspart. Glargine is the generic version of
) Lantus; Lispro is the generic of
Eli Lilly and Company'
) Humalog while Aspart is the generic of
Mylan gained the exclusive commercialization rights of these
products in the US, Canada, Australia, New Zealand, the EU and
the European Free Trade Association countries. Mylan and Biocon
will share development, capital and other expenses in respect to
the commercial launch of the products. The company has a
profit-sharing arrangement with Biocon for the commercialization
of the products in these areas.
Mylan enjoys co-exclusive commercialization rights with Biocon
for these products in some other markets around the world. The
companies however kept the other terms of the agreement under
Mylan mentioned in its press release that worldwide
collaborated net sales of Lantus, Humalog and NovoLog for 2012
were around $11.5 billion.
We note that Mylan already has a strategic collaboration with
Biocon to develop a biogenerics portfolio with five products.
The company has several agreements with big pharmaceutical
companies in diverse areas. Mylan is set to report its fourth
quarter and full year financial results on Feb 27. We expect
investor focus to remain on the company's financial results.
Mylan currently carries a Zacks Rank #2 (Buy). Meanwhile,
Sanofi, Lilly and Novo Nordisk also carry a comparable rank.
LILLY ELI & CO (LLY): Free Stock Analysis
MYLAN INC (MYL): Free Stock Analysis Report
NOVO-NORDISK AS (NVO): Free Stock Analysis
SANOFI-AVENTIS (SNY): Free Stock Analysis
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