Bioton buys insulin rights for USD 40 million

The transaction guarantees Bioton unlimited rights to produce and sell such insulin without additional charges, thanks to which the company plans to save millions of zlotys on license fees. Bioton's president, Adam Wilczega, says that the deal will enable the concern to enter new markets, including Western Europe and the USA. It will also start collecting license fees from other licensees, including Diosynth, a Dutch insulin producer belonging to the Axo Nobel Group, which will pay Bioton about USD 1 billion annually. According to Wilczega, the investment should break even in 4-5 years. The board upheld its 2006 gross profit forecast and announced plans to increase the company's share of the global classic insulin market by 5% (worth USD 6 billion) over the coming two years. (Puls Biznesu, p.10) J.L.