The Danish company said on Monday it would invest the money over 10 years in the centre based at the University of Oxford, which will employ 100 scientists hunting for new ways to treat type 2 diabetes.
"This is one of several actions taken to reduce operating costs as the company faces a challenging competitive environment in 2017, especially in its large US market," the Denmark-based company said in a statement.
Haemophilia is a chronic, inherited bleeding disorder that primarily affects males. People with haemophilia A are either missing or have a malfunctioning factor VIII protein, which is essential for proper blood clotting.
The pharma major has received an approval from the USFDA for PrandiMet (also known as Prandin) generic that is used for treatment of type 2 diabetes.
The concept of oral insulin as a way to relieve people with type 1 diabetes of several daily injections has been around since the 1930s.
Danish drug maker Novo Nordisk is all set to launch its ultra long-lasting insulin injection, brand named Tresiba, in India by the end of this year.
Biocon shares rose 2 percent in morning trade on Thursday after the biotechnology company said it has enhanced its partnership with pharma major Mylan through a strategic collaboration for insulin products.
Shares of pharma major Sun Pharmaceutical Industries rose over 2.5% on Wednesday, after US Supreme Court gave a verdict in favour of its arm Caraco Pharmaceutical Laboratories in the ongoing battle with Novo Nordisk for a generic version of diabetic drug Prandin.
The US Supreme Court ruled on Tuesday in favor of a generic drugmaker in a case over how companies can fight brand-name rivals in an effort to get their cheaper medicines to market.
Novo Nordisk, in association with CNBC-TV18, presents "Improving Control of Diabetes Pandemic in India". In this discussion, experts address the challenges and management of diabetes in India.
Multi-national drug companies are queuing up to enter India and tap its growing anti-diabetes drug market. But Novo Nordisk, which has been in the Indian insulin market for 75 years, is not worried, reports CNBC-TV18's Archana Shukla.
Pfizer - Biocon alliance has called off due to individual priorities and in Shares of Biocon fell more than 8% on Tuesday morning after US pharma major Pfizer scrapped a deal to sell insulin products made by the Bangalore-based biotechnology company.
The deal between Biocon and Pfizer to market a range of insulin products may be in crisis. Vikas Dandekar, the India Bureau Chief of PharmAsia News who broke this story tells CNBC-TV18 that while sources are saying talks are on to salvage the deal, it is most likely to be called off.
A breakthrough in oral insulin will mean doing away with insulin injections all together which explains the flurry of activity in the field. CNBC-TV18's Archana Shukla reports on just how far this research has progressed.