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Stock Market & Financial Investment News

News Breaks
February 13, 2013
16:18 EDTMYLMylan announces agreement with Biocon for collaboration on insulin products
Mylan (MYL) announced that it has entered into a definitive agreement with Biocon Limited for an exclusive strategic collaboration on the development and commercialization of generic versions of three insulin analog products. Under the terms of this collaboration, Mylan will have the rights to develop and market Biocon's Glargine, the generic version of Sanofi's (SNY) Lantus, Lispro, the generic version of Eli Lilly's (LLY) Humalog, and Aspart, the generic version of Novo Nordisk's (NVO) NovoLog. Mylan and Biocon will share development, capital and certain other costs to bring the products to market. Reported worldwide net sales of Lantus, Humalog and NovoLog for 2012 were approximately $11.5B.
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