Mylan has entered into collaboration with Indian biopharmaceutical company Biocon for the development, manufacturing, supply and commercialisation of multiple, high-value generic biologic compounds.
As per the collaboration, Mylan and Biocon will share development, capital and certain other costs to bring products to market.
Mylan will have exclusive commercialisation rights in the US, Canada, Japan, Australia, New Zealand and in the EU and European Free Trade Association countries, through a profit sharing arrangement with Biocon.
Mylan will then have co-exclusive commercialisation rights with Biocon in all other markets. All other financial terms and product details remain confidential.
Biocon chairman and managing director Dr Kiran Mazumdar-Shaw said that the company was pleased to have a partner with which to accelerate work in generic biologics, especially with monoclonal antibodies.
"Monoclonal antibodies are emerging as the most dominant class in biologics. Through this partnership we hope to deliver high-quality, affordable biogeneric antibodies and biologics, thereby addressing a critical need to lower spiraling healthcare costs in both the developed and emerging economies," Mazumdar-Shaw said.