The $350-million deal with Pfizer to commercialise its insulin products is no more, but Bangalore-based Biocon is unfazed. The company is confident of finding new partners for US and Europe thanks to the trust of the $15-billion insulin market, Kiran Mazumdar-Shaw, chairperson and managing director of Biocon, told FE in an interview.
The company believes there will be no short-term impact from breaking up the deal, since it will retain the upfront payment of $100 million from Pfizer, besides getting some of the $100 million retained in an escrow account.
Going forward, instead of going with one large partner, Biocon will look at several smaller ones, Mazumdar-Shaw said.