Ranbaxy, Biocon inked similar deals

Ranbaxy had entered into a deal with US' Merck in 2008 for drug discovery and clinical development in anti-infective drugs. HT reports.

Ranbaxy had entered into a deal with US' Merck in 2008 for drug discovery and clinical development in anti-infective drugs.

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Upfront payment was not disclosed. Biocon also signed a similar deal with Pfizer in 2010, which gave Pfizer exclusive rights to market Biocon's biosimilar versions of top-selling insulins. Pfizer paid Biocon $200 million upfront and up to $150 million for development.