Biocon has entered into a licensing agreement with multinational healthcare corporation Bayer HealthCare (BHC) for the exclusive marketing and trademark rights for Insugen for the Chinese market. It is envisaged that the collaboration will be expanded to other countries in Asia Pacific. After completion of necessary local registration trials, Insugen, a recombinant human insulin, is expected to be launched within the next two to three years in China.
Insugen has already achieved critical mass in the Indian market with substantial market share gained since launch, and increasing. The agreement with Bayer reiterates our commitment to providing biotechnology solutions to diabetes, the 21st century pandemic. We believe that Bayer is strongly positioned to achieve significant market share for Insugen in China. This also signals Biocon's entry into branded formulations in the international market," stated Dr. Kiran Mazumdar-Shaw, chairman & managing director, Biocon.
According to Dr. Jean-Luc Lowinski, senior vice president, Bayer HealthCare Asia Pacific "The agreement with India's premier biotechnology company Biocon, is pursuant to Bayer HealthCare's local strategy to strengthen its diabetes franchise, and at the same time, our presence in China. This deal is the first of its kind in the prescription pharmaceutical market in China and we are delighted to partner with an expert in the field of insulin to deliver a state- of -the -art product."
The exclusive marketing rights and trademark agreement covers three formulations of insulin: Fast-acting (R), intermediate-acting (N), and mixed-acting, in both vials and cartridges. These apply to both type 1 and type 2 diabetes. This investment will create a platform for complete diabetes management and an excellent growth potential in the future for Biocon and Bayer HealthCare in China and other markets.
The incidence of diabetes is rapidly increasing in China, especially in urban areas. Currently, 40 million people in China suffer from diabetes and there are estimated 3000 new cases each day.
Meanwhile, DCGI has granted approval for the marketing of BIOMAb EGFR in the Indian market. The product will first be used in the treatment of head and neck cancers and later extended to other indications viz. Colorectal, Brain, Breast, Pancreatic and Lung cancers. This will be the first proprietary product to be marketed by the company. This demonstrates the success of the company's innovation led strategy.
The company has commenced phase I human clinical trials of its oral insulin molecule, IN105 to establish Proof of concept of its proprietary oral delivery technology, recently acquired from Nobex. The studies are expected to be completed by Q3-FY07 and will be used to support IND filings with International Regulatory Authorities.