Bristol-Myers Squibb Company, Sanofi (France) in Race for Drug Marketing Pact with BioCon Limited; Sources Say BioCon Oral Insulin Drug Could be Worth $1 Billion to Suitors

MUMBAI: Indian bio-pharmaceuticals major Biocon is in early stage talks with global pharma companies including Bristol-Myers Squibb and Sanofi-Aventis to ink an alliance to market its oral insulin drug, a novel drug that the company is developing for the treatment of diabetes, at least three people said on condition of anonymity. One of the people quoted above said Biocon's oral insulin drug IN 105, which is in an advanced stage of development could be valued at close to $1 billion by potential suitors who are in discussions to buy rights to market the drug in developed markets.