Member access

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

SummaryQuotesChart AnalysisNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
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 rumman.ahmed@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article : Bristol Myers Squibb Co.
React to this article
Latest news on BRISTOL-MYERS SQUIBB CO
1d ago BRISTOL MYERS SQUIBB : Reports Outline Hepatitis C Virus and Genetics Study Resu..
1d ago BRISTOL MYERS SQUIBB : Studies from Bristol-Myers Squibb Update Current Data on ..
1d ago Ono Pharmaceutical, Bristol-Myers Squibb and Kyowa Hakko Kirin Announce Immun..
2d ago BRISTOL MYERS SQUIBB : to Announce Results for Fourth Quarter, Full Year 2014 on..
2d ago Ono Pharma, Bristol-Myers & Kyowa Hakko Kirin enter pact to condutct phase 1 ..
2d ago BRISTOL MYERS SQUIBB : Assigned Patent
3d agoDJMetLife, TRW Sign $440 Million Pension Buyout Agreement
12/12DJDanone Committed to All Business Units -- 2nd Update
12/12DJDanone Committed to All Business Units -- Update
12/11 Ono Pharmaceutical, Bristol-Myers Squibb and Kyowa Hakko Kirin Announce Immun..
Advertisement
Chart
Duration : Period :
Bristol-Myers Squibb Co Technical Analysis Chart | BMY | US1101221083 | 4-Traders
Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF