Mylan Inc. and Biocon Ltd. have entered a definitive agreement to collaborate on the development, manufacture, supply and commercialization of multiple, generic biologic compounds.

Mylan's chairman and chief executive officer Robert J. Coury commented, "This unique collaboration combines Biocon's scientific expertise, excellent product development track record, appreciation of complex regulatory requirements, and state-of-the-art, cost-efficient and scalable biologics manufacturing with Mylan's one-of-a-kind global commercial footprint and our regulatory expertise around the world. Biocon also has a unique corporate culture that is very similar to Mylan's. All of these attributes will provide a critical synergy and create a strong and effective long-term partnership."

Biocon chairman and managing director Dr. Kiran Mazumdar-Shaw commented, "Biocon is extremely pleased to have found a partner as strong as Mylan to accelerate our work in generic biologics, especially with monoclonal antibodies, and take it to the next level around the world, especially in regulated markets. Monoclonal antibodies are emerging as the most dominant class in biologics. Through this partnership we hope to deliver high quality, affordable biogeneric antibodies and biologics, thereby addressing a critical need to lower spiraling healthcare costs in both the developed and emerging economies."

The two companies will share development, capital and certain other costs. Mylan will have exclusive commercialization rights in the U.S., Canada, Japan, Australia, New Zealand and in the EU through a profit sharing arrangement with Biocon. Mylan will have co-exclusive commercialization rights with Biocon in all other markets around the world. Financial terms and product details were not disclosed.

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