Pfizer scraps insulin deal with India’s Biocon

MUMBAI (Reuters) – Pfizer Inc, the world’s largest drugmaker, has scrapped a deal to sell insulin products made by Biocon Ltd, leaving India’s biggest biotech company without a partner to sell the drugs in key global markets such as the United States. The two companies cited “individual priorities” as the reason for the split in a joint statement released on Tuesday, which immediately ends a relationship that stood to earn Biocon hundreds of millions of dollars in royalties. …