Biocon Ltd. (532523.BY) said Monday it has signed a pact with Mylan Inc. (MYL) to collaborate on developing, making and selling generic versions of biologic drugs for the global market.

Biologic, or biopharmaceutical, drugs are synthesized from living organisms for medical use.

As part of the collaboration, Mylan and Biocon will share the development, capital and other costs to bring products to the market, the Indian biopharmaceutical company said in a statement.

Mylan will have exclusive marketing rights in the U.S., Canada, Japan, Australia, New Zealand and in the European Union and the European Free Trade Association countries through a profit-sharing agreement with Biocon.

Mylan will share marketing rights with Biocon in all other markets around the world.

The company didn't provide any other financial terms or product details.

-By Rumman Ahmed, Dow Jones Newswires; 91-9845104173; rumman.ahmed@dowjones.com