It's payback time: Kiran Majumdar-Shaw
November 11, 2010Kiran Majumdar-Shaw
57, Chairperson and Managing Director, Biocon
(Number of times in BT's Most Powerful list: 7)
A result of the relentless travel was visible in mid-October, when Biocon announced a deal with global pharma giant Pfizer to sell biosimilar insulin products. Biosimilars are versions of innovator biopharma drugs that are produced following patent expiry. The oral insulin products are in stage 3 of clinical trials, and Pfizer gets the rights to commercialise the biosimilar versions worldwide.
For this Biocon pockets a cool $350 million- $250 million upfront. "This deal is a validation of Biocon's capabilities by one of the best names in the business," Mazumdar-Shaw told this writer a day before continuing her globetrotting, this time to Malaysia where she announced a $171-million investment in a biosimilar unit.