Pursuits
Pfizer Taps Beer Skills to Enter $14 Billion Insulin Market
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Biocon Ltd. founder Kiran Mazumdar-Shaw learned the intricacies of enzymes while studying how to make beer. Now Pfizer Inc., the world’s largest drugmaker, is tapping that knowledge to revive its insulin business.
The biotechnology company that Mazumdar-Shaw started in her garage in 1978 for about $1,200 is Asia’s biggest insulin maker, with a market value of about $1.35 billion. The Bangalore, India-based group signed a deal in October to supply Pfizer with four generic insulin products in emerging markets, including India and Brazil, and then the U.S. and other developed nations.