Biocon, Bristol-Myers sign drug deal
- Navjot Sidhu: Quit RS because I was told to stay away from Punjab
- Chinkara poaching case: Salman Khan acquitted by Rajasthan High Court
- SC issues notice to Vijay Mallya on bank plea seeking contempt proceedings
- Journalists' visa issue: Chinese media warns India of repercussions
- Parliament LIVE: Speaker Mahajan advises Mann not to attend proceedings till decision arrived at
If the US based company exercises the option to licence IN -105, following the successful completion of Phase II trial, the domestic firm will receive a licence fee in addition to potential regulatory and commercial milestone payments and royalties on commercial sales outside India, it added.
Biocon said it will retain the exclusive rights to IN-105 in India.
Bristol-Myers Squibb will assume full responsibility for the development programme, including all development and commercialisation activities outside India, it added.
Commenting on the development, Biocon MD and Chairman Kiran-Mazumdar Shaw said: "This agreement is one huge step closer to realising the dream of bringing oral insulin to market".
Diabetes is a chronic disease that affects about 350 million people worldwide and it is estimated that direct and indirect costs of the disease to overall healthcare system amounts to over USD 650 billion worldwide, Biocon said.
- The recent violence against Dalits in Gujarat is a fallout of the Sangh Parivar’s diktats on food
- Turkey’s coup reveals the fragile relationship between Islam and democracy
- The Sangh Parivar has furthered the colonial understanding of India’s past
- Better state support and supportive social environment can help independent filmmakers
- Next Door Nepal: Chinese checkers
- Kashmir unrest: A to-do list for PM Modi