Biocon in Talks With Bayer for Drug Development (India)
This article was originally published in PharmAsia News
Executive Summary
Bayer AG Chairman Werner Wenning met with leaders of Biocon, an Indian biotech firm, last week in Bangalore to discuss co-development of innovative biotech drugs. "We are considering options to develop products together. Biocon had world class research and development (R&D) centers with excellent facilities. As of now, we have not yet signed any cooperation agreement," Wenning said. Major firms such as Bayer are increasingly looking at new ways to share the expenses and risks involved in new drug development. UTI Securities senior analyst Surjit Pal notes the development "is an opportunity for Indian companies, which do not yet have the financial muscle to take new drugs to the market on their own." Biocon currently has four new biotech drugs in the pipeline, targeted at diabetes, cardiovascular diseases, and inflammation. Bayer has three production and formulations plants in India, and is also in discussions with other players for a possible joint venture or acquisition. (Click here for more