Navigation Links
Bayer to Market Biocon Insulin in China

Indian biotech major Biocon Ltd has roped in Bayer HealthCare to market its recombinant human insulin Insugen in the Chinese market, the company //said in a statement Wednesday.

The Bangalore-based biotech firm plans to launch Insugen in China by 2007-08 after completing the registration trials and seeking the regulatory approvals.

"The marketing tie-up with Bayer will be extended to other countries in the Asia-Pacific region later. The incidence of diabetes is rapidly spreading in China, especially in the urban areas. About 40 million Chinese suffer from diabetes currently, with an estimated 3,000 new cases reported every day," the statement said.

According to Biocon chairperson Kiran Mazumdar-Shaw, Insugen had already achieved critical mass in the Indian market, with substantial market share since its launch.

"The marketing tie-up with Bayer reiterates our commitment to providing biotech solutions to diabetes, termed the 21st century pandemic. We believe Bayer is positioned to achieve significant market share for Insugen in China," Shaw said.

Bayer HealthCare vice-president for Asia Pacific Jean-Luc Lowinski said the agreement with Biocon would strengthen its diabetes franchise strategy and increase its presence in China.

"This deal is the first of its kind in the prescription pharmaceutical market in China. The marketing rights and trademark agreement covers three formulations of insulin: fast-acting (R), intermediate-acting (N), and mixed-acting, in both vials and cartridges," Lowinski pointed out.

The formulations apply to both type-1 and type-2 diabetes. The investment will create a platform for complete diabetes management, with growth potential for Biocon and Bayer in China and other markets, the statement added.

Meanwhile, Biocon reported that it posted a net profit of Rs.390 million for the first quarter (April-June) of the current fiscal (2006-07), the same as in the corresponding quarter of the last fiscal (FY 2006).

In a notification to the stock exchanges, the company said its net income did not appreciate year-on-year YoY) basis due to upfront investments in the biotech park that was recently opened in the electronics city on the outskirts of Bangalore.

The company's consolidated revenue, however, increased by 21 percent to Rs.2.1 billion for the quarter under review (Q1) from Rs.1.8 billion posted in the same quarter a year ago.

The earnings before interest, depreciation, taxes and amortisation (EBIDTA) were Rs.550 million, against Rs.520 million in the same period a year ago.

"Our financial performance in the first quarter has generated good profitability despite challenges. This underpins our confidence in pursuing discovery-led research programs. We believe our innovation led business initiatives have the potential to realise exponential growth in the long-term and deliver superior shareholder value in the future," Shaw said in the statement.

(Source: IANS News)
'"/>




Related medicine news :

1. Bayer Voluntarily Withdraws BAYCOL - A Drug Associated With 50 Deaths
2. Bayer Wins Positive Response For Marketing Its Cancer Drug
3. Genomatix Licensed By Bayer Healthcare
4. Test for Esophageal Reflux Licensed to Bayer by University
5. Panacea Biotech To Market Anthrax Vaccine
6. Ranbaxy Labs Entry Into Anti-Acne Market
7. FDA to bring about changes in Marketed Non-Steroidal Anti-Inflammatory Drugs
8. FDA To Set New Guidelines To Revise Drug Companies Marketing Tactics
9. Donated Mothers Milk To Hit The Market
10. New Four- in- one Vaccine For DTP & Hepatitis To Hit The Indian Market
11. Record Growth Of Soya-Based Dairy Alternatives Over The Past Year In European Markets
Post Your Comments:
*Name:
*Comment:
*Email:


(Date:6/26/2016)... ... 2016 , ... Brent Kasmer, a legally blind and certified personal trainer is helping to develop ... The fitness app plans to fix the two major problems leading the fitness industry today:, ... all type program , They don’t eliminate all the reasons people quit their ...
(Date:6/25/2016)... Austin, TX (PRWEB) , ... June 25, 2016 , ... ... Fellow of the American College of Mohs Surgery and to Dr. Russell Peckham for ... popular and highly effective treatment for skin cancer. The selective fellowship in Mohs Micrographic ...
(Date:6/25/2016)... ... June 25, 2016 , ... First Choice Emergency Room ... Dr. Sesan Ogunleye, as the Medical Director of its new Mesquite-Samuell Farm facility. ... of our new Mesquite location,” said Dr. James M. Muzzarelli, Executive Medical Director of ...
(Date:6/25/2016)... , ... June 25, 2016 , ... On Friday, June ... a Bronze Wellness at Work award to iHire in recognition of their exemplary accomplishments ... of the 7th annual Maryland Workplace Health & Wellness Symposium at the BWI Marriott ...
(Date:6/24/2016)... ... June 24, 2016 , ... Those who have experienced traumatic events ... turn to unhealthy avenues, such as drug or alcohol abuse, as a coping mechanism. ... tools for healthy coping following a traumatic event. , Trauma sufferers tend to feel ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... 26, 2016 Story Highlights: ... models within the health care industry is causing providers ... , Deloitte offers a suite of solutions for ... impacting efficient cost optimization: labor resource analysis, revenue cycle ... facilitate better outcomes and better economics ...
(Date:6/24/2016)... 24, 2016 ... the addition of the " Global Markets for ... This report focuses on ... updated review, including its applications in various applications. The ... which includes three main industries: pharmaceutical and biotechnology, food ...
(Date:6/24/2016)... Research and Markets has announced the addition of ... report to their offering. ... The World Market for Companion Diagnostics covers the world market ... the report includes the following: , World ... Region (N. America, EU, ROW), 2015-2020 , World IVD ...
Breaking Medicine Technology: