Biocon signs pact with Mylan Inc

Indian biotechnology major Biocon Ltd on Monday said it had signed an agreement with Mylan Inc to develop, manufacture and supply generic biologic drugs globally.

Indian biotechnology major Biocon Ltd on Monday said it had signed an agreement with Mylan Inc to develop, manufacture and supply generic biologic drugs globally.

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Mylan Inc is a leading diversified generics and specialty pharmaceutical company.

"Through this partnership we hope to deliver high quality, affordable bio-generic antibodies and biologics, thereby addressing a critical need to lower spiralling healthcare costs in both the developed and emerging economies," said Kiran Mazumdar Shaw, chairperson and managing director, Biocon Ltd.

As part of this agreement, both the companies will share development, capital and certain other costs to bring the products to the market.