Bangalore: Dr Kiran Mazumder Shaw's Biocon, a well-renowned named in the field of insulin, has had a long standing relationship with Bristol-Myers Squibb (BMS) for drug discovery and development and also has a dedicated discovery and development center, in its Biocon Park in Bangalore, that employs over 400 scientists. Biocon, like many other Indian firms is leveraging on big pharma's change in strategy from 'profit alone' model to 'profit together' model.

The company recently extended this relationship by partnering with BMS for global development of its novel molecule, Oral Insulin. Biocon will progress further on global development pathway with support from BMS expertise in taking molecules from lab-to-market.

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The purpose of the relationship was to accelerate the progress of the novel molecule through global clinical trials under guidance from a well entrenched global player, in order to meet the unmet need of diabetic patients across the world. Biocon's oral insulin can possibly be the first oral insulin of the world to hit the market.

On this development, Dr Kiran-Mazumder Shaw, chairman and managing director, Biocon said that, "We have had an excellent relationship with BMS so far and this agreement is an extension of that business partnership and the trust we enjoy with Bristol-Myers Squibb. We are confident that with BMS expertise available to Biocon, we will be able to take oral insulin forward on its development pathway much faster, we look forward to working closely with BMS to shape our dream into reality."