Actavis and Bioton set out to conquer diabetes market
Zug/Warsaw - The fourth largest generics producer and a polish biotech want to create a stir in the market for diabetes drugs. Swiss Actavis and Bioton from Warsaw announced that they have formed a joint venture company for the development and registration of insulins, including analogue insulins. Bioton will do all the heavy lifting, means developing and manufacturing the insulin products, while Actavis, which has roots in Iceland, will sell them more or less all over the world. Only in Bioton's backwater Poland, will each company will offer the insulin under their respective brands. Actavis will invest €55m, of which €22.5m was splashed out at the signing of the contract on Monday. Actavis' CEO Claudio Albrecht sees great potential in the world market for insulin drugs, which amasses revenues of currently €12b and is expected to grow in double digits over the next years. "We hope to be the first to launch a biosimilar insulin", Albrecht told Reuters, a news agency. Actavis has plans beyond insulin, though. He announced to launch a biosimilar for bestselling drugs every month during the first eight months of 2012.