Member access

4-Traders Homepage  >  Shares  >  Nyse  >  Bristol-Myers Squibb Co    BMY   US1101221083

News SummaryMost relevantAll newsSector news 

Biocon, Bristol-Myers Squibb Sign Pact for Experimental Oral Insulin Drug

11/15/2012 | 11:26pm US/Eastern
   By Rumman Ahmed 

BANGALORE, India--Biocon Ltd. (532523.BY) Friday said it has entered into an agreement with Bristol-Myers Squibb Co. (>> Bristol Myers Squibb Co.) on a licensing deal for its experimental biopharmaceutical drug IN-105, which is an orally administered insulin.

Under the terms of the agreement, the New York-headquartered company will have the right to exercise an option to obtain a global license for IN-105 on the successful completion of mid-stage trials for the experimental drug by Biocon, the Indian company said in a statement.

Biocon, which develops biological treatments that use proteins manufactured in living cells, is India's largest biotechnology company by revenue.

It has been seeking alliances with other drug makers for further development of the experimental drug under a licensing agreement.

If Bristol-Myers Squibb decides to obtain the license for IN-105, the U.S. company will assume full responsibility for the development program, including all development and commercialization activities outside India, the statement said.

In return, Biocon will receive a license fee, potential payments when IN-105 achieves certain regulatory and commercial milestones, as well as royalties on commercial sales of IN-105 outside India, the statement added.

Biocon will retain exclusive rights to IN-105 in India.

Indian drug makers often seek to develop drugs in partnership with foreign companies because they can help finance costly and lengthy research. At the same time, global companies are keen to cooperate with Indian companies because of lower costs, the availability of skilled scientists in the South Asian country, as well as the prospect of adding new products to their portfolios.

Write to Rumman Ahmed at

Subscribe to WSJ:

Stocks mentioned in the article : Bristol Myers Squibb Co.
React to this article
02/26 BRISTOL MYERS SQUIBB : ALLY Trial Demonstrates 97% Hepatitis C Cure Rates Among ..
02/26 BRISTOL MYERS SQUIBB : Study of Next-Generation Investigational HIV-1 Maturation..
02/26 BRISTOL MYERS SQUIBB : An Application for the Trademark "DESYREL" Has Been Filed..
02/25 BRISTOL MYERS SQUIBB : Research Conducted at Bristol-Myers Squibb Has Provided N..
02/25 BRISTOL MYERS SQUIBB : Findings in General Science Reported from Bristol-Myers S..
02/25 BRISTOL MYERS SQUIBB : An Application for the Trademark "NURSETTE" Has Been File..
02/25 BRISTOL MYERS SQUIBB : New Antiretrovirals Data Have Been Reported by Researcher..
02/25 BRISTOL MYERS SQUIBB : Foundation Awards GRU Cancer Center Three-Year, $1.74M Gr..
02/25 BRISTOL MYERS SQUIBB : 48-Week Analysis of Investigational HIV-1 Attachment Inhi..
02/25 BRISTOL MYERS SQUIBB : KPCB-Bristol-Myers Squibb Agrees to Acquire Flexus Biosci..
Duration : Period :
Bristol-Myers Squibb Co Technical Analysis Chart | BMY | US1101221083 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes