Bayer Schering Pharma AG, Germany, has signed an exclusive supply and distribution agreement with the Polish insulin producer Bioton S.A. and Bioton's Singaporean subsidiary, SciGen, to strengthen its pharmaceutical product portfolio. For an up-front payment of 31 million Euros, Bayer acquires the exclusive right to market and distribute insulin produced by Bioton under the trade name of SciLin® in China. The contract and payment guarantee the exclusive commercial delivery of this recombinant insulin to Bayer in China with a secured supply of the product for the next 15 years.
"Today, Bayer is already a top ranking international pharmaceutical company in China with our pharmaceutical Glucobay® for treatment of type 2 diabetes being the most successful product. Through the planned distribution of SciLin®, we will further supply patients suffering from diabetes, and will expand our position in this very promising growth market," said Andreas Fibig, CEO of Bayer Schering Pharma AG.
"With this agreement for long-term collaboration Bioton has materialized one of its strategic goals to develop its strong international position on growing insulin markets via alliances with leading pharmaceutical companies. We emphasize our position as a recognized leader in insulin production. Bayer is our partner of choice," stated Janusz R. Guy, CEO of Bioton S.A.
According to current market data, there are approximately 40 million diabetics in China. Insulin is the fastest growing segment of the Chinese diabetes market, with projected annual growth rates of more than 40 percent.
About Bayer HealthCare
The Bayer Group is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Bayer HealthCare, a subsidiary of Bayer AG, is one of the world's leading, innovative companies in the healthcare and medical products industry and is based in Leverkusen, Germany. The company combines the global activities of the Animal Health, Bayer Schering Pharma, Consumer Care and Medical Care divisions. Bayer HealthCare's aim is to discover and manufacture products that will improve
human and animal health worldwide. Find more information at http://www.bayerhealthcare.com.
Bayer Schering Pharma is a worldwide leading specialty pharmaceutical company. Its research and business activities are focused on the following areas: Diagnostic Imaging, General Medicine, Specialty Medicine and Women's Healthcare. With innovative products, Bayer Schering Pharma aims for leading positions in specialized markets worldwide. Using new ideas, Bayer Schering Pharma aims to make a contribution to medical progress and strives to improve the quality of life. Find more information at http://www.bayerscheringpharma.de.