Bayer Schering Pharma signs insulin contract

Bayer Schering Pharma has signed an exclusive contract with Bioton and SciGen to market and distribute insulin that is produced by the former and under the trade name of SciLin in certain markets.

The deal saw Bayer Schering Pharma pay a total of 31 million euros (26.5 million pounds) to the other parties.

Commenting on the move, Andreas Fibig, chief executive officer of Bayer Schering Pharma, said that the agreement will allow the company to provide an enhanced supply of treatment to patients suffering from diabetes.

“With this agreement for long-term collaboration, Bioton has materialised one of its strategic goals to develop its strong international position on growing insulin markets via alliances with leading pharmaceutical companies,” added Janusz Guy, chief executive officer of Bioton.

In recent days, Bayer Schering Pharma signed a deal with Celera Corporation and gained access to five cancer-related targets for in-vivo diagnostic imaging and therapeutic development.