Bioton, a biotech firm controlled by Ryszard Krauze which recently announced a long waited tender to choose a partner to distribute the company's insulin product in China, yesterday published details of an agreement.

Bioton's Chinese partner will be Bayer Schering Pharma, which will have the exclusive rights to distribute Bioton's insulin under the brand SciLin in China for 15 years. The value of the contract stands at between $1.5-2 billion.

According to analysts, Bioton's margin in China could amount to 20-30%, which means that over the 15 year contract the company could earn zł.60-120 million on the operating level, on a turnover reaching zł.300-400 million.

Sources: Puls Biznesu; Parkiet