India's Biocon sees oral insulin partner by March

Wed Nov 23, 2011 3:11pm IST

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(For other news from the Reuters India Investment Summit, click here)

BANGALORE Nov 23 (Reuters) - Biocon Ltd, India's largest listed biotechnology company, expects to find a deep-pocketed global partner for its experimental oral insulin pill by end-March, its top executive said on Wednesday .

"We are in advanced discussions with potential partners," Biocon's Managing Director Kiran Mazumdar-Shaw told the Reuters India Investment Summit in Bangalore.

In January, Biocon had said it was looking for a partner after its oral insulin, IN-105, failed to meet the main goal of an Indian late-stage trial in patients with type-2 diabetes.

Mazumdar-Shaw, however, declined to name any potential partners.

She also said the planned IPO of its contract research organisation, Syngene, was on track.

(For summit blog: blogs.reuters.com/summits/)

(For more on the Reuters India Investment Summit, see ) (Reporting by Anand Basu, Jochelle Mendonca and Aftab Ahmed in Bangalore. Editing by Sriraj Kalluvila, Saumyadeb Chakrabarty)