Biocon Inks Deal With Novartis After U.S. Nod for Biologic Drug
- Partnership with Sandoz to develop, make biosimilars
- Biocon, Novartis unit to share cost, profit globally
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Biocon Ltd. said it signed a deal to develop copycat versions of biologic drugs with a unit of Novartis AG, its latest move to become a global player in the next generation of generic medicines after a similar partnership with Mylan NV delivered a recent success.
The tie-up with Novartis’s generics unit Sandoz will focus on developing copies, or biosimilars, of biologic drugs in immunology and oncology, Bengaluru-based Biocon said in a statement Thursday. The two will share cost and profit globally, with Sandoz responsible for commercialization in North America and the European Union, and Biocon in the rest of the world.