Please login to the form below

Not currently logged in
Email:
Password:

Mylan buys into six biosimilars, including Orencia candidate

Deal with Momenta bolsters biosimilars pipeline for new products

Mylan building 

Generic pharmaceutical giant Mylan has boosted its position in the emerging biosimilar market via a $245m agreement with Momenta.

The agreement gives Mylan the rights to six biosimilars in Momenta's pipeline, including a version of Bristol-Myers Squibb's rheumatoid arthritis therapy Orencia (abatacept) which brought in sales of a little under $2bn last year.

The identities of the other candidates have not been revealed but, based on patent filings, Momenta's development portfolio may also include biosimilars of Roche's MabThera/Rituxan (rituximab), Amgen's Prolia/Xgeva (denosumab) and Vectibix (panitumumab), Novartis' Xolair (omalizumab) and Sanofi's Campath (alemtuzumab), according to Evercore ISI analyst Umer Raffat.

The deal includes an upfront payment of $45m and up to $200m in milestone payments, according to Momenta, which is riding high after getting US approval for Glatopa, its Sandoz-partnered biosimilar of Teva's multiple sclerosis blockbuster Copaxone (glatiramer acetate), last year.

The deal could allow Momenta to tap into Mylan's international sales and marketing networks and launch some of the biosimilars in emerging markets ahead of established territories such as the US and Europe, according to Bernstein analyst Ronny Gal, who speculated whether the deal could be a forerunner to an acquisition.

Momenta chief executive Craig Wheeler said the collaboration combined "Momenta's proven capabilities in complex product development and Mylan's world class global R&D, supply chain and commercial infrastructure".

The deal also bolsters Mylan's pipeline, which is starting to look a little thin with the crop of new launches expected in 2016 and 2018, particularly in the biosimilar category where the company is at risk of falling well behind rivals such as Biogen, Novartis and Pfizer. 

To bolster its portfolio and pipeline, Mylan mounted a hostile takeover for generic and over-the-counter (OTC) drug specialist Perrigo last year, but failed to bring the deal to a conclusion.

Biosimilars are expected to reduce healthcare costs and provide a larger number of patients with access to biologic treatments. 

Pharmacy benefits manager (PBM) Express Scripts has predicted that about $250bn could be slashed from healthcare spending in the US between 2014 and 2024 if biosimilars of the top 11 best-selling biologic drugs become available.

Article by
Phil Taylor

11th January 2016

From: Sales

Share

Tags

COVID-19 Updates and Daily News

Featured jobs

PMHub

Add my company
Life Healthcare Communications

Life is a creative communications agency offering multi-channel solutions for the healthcare industry. We use a storytelling approach to turn...

Latest intelligence

How innovating study sites can improve patient recruitment efficiency
There are so many ways that clinical trials have innovated over the last few years. There is now a larger focus on making trials more patient-centric, more virtualised, and more...
PME-MAY21-Cover
Avoiding A Series of Unfortunate Events: launch lessons from lockdown
Chris Ross takes a novel look at launch excellence through the lens of COVID-19 and explores how pharma’s launch leaders are rewriting the story...
6 reasons patients drop out of clinical trials and 6 ways to fix it
If you’ve successfully recruited patients for your clinical trial, but one by one, they begin to drop out, then this information could be for you....