Biotechnology major Biocon said its wholly-owned subsidiary has entered into a co-development and commercialisation agreement with Mexico’s Laboratories PiSA SA de CV for generic recombinant human insulin for the US market.
“The company has, through its wholly-owned subsidiary Biocon SA, entered into a co-development and commercialisation agreement with Laboratories PiSA SA de CV of Mexico for generic recombinant human insulin (rh-Insulin) for the US market,” Biocon said in a BSE filing.
It further said: “This is a cost-sharing and profit-sharing agreement, with Biocon SA being responsible for clinical development, regulatory approvals and commercialisation of the product in the US. The drug substance will be made by Biocon while the drug product will be made by PiSA at its facility in Mexico.”
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Shares of Biocon were trading at Rs 468, down 1.24%, from the previous close on BSE.