AstraZeneca pursuing biosimilars with Celltrion bid

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AstraZeneca pursuing biosimilars with Celltrion bid

Biosimilares/Novedades | Posted 16/08/2013 0 Post your comment

Pharma giant AstraZeneca is rumoured to be ready to join the race for biosimilars with a bid for South Korean biotechnology company Celltrion.

Korea’s Financial News reports that Celltrion is in talks with the UK drugmaker, citing unnamed investment bankers as sources of the information.

Celltrion Chairman, Mr Seo Jung Jin already announced plans to sell his stake in the company and two affiliates to a ‘multinational’ pharmaceutical company back in April 2013.

AstraZeneca declined to comment on the matter, although Celltrion admitted that its largest shareholder is working on a sale. The company added though, that nothing had been finalized with AstraZeneca or any other possible buyer.

Celltrion received EMA approval for its monoclonal antibody Remsima (infliximab) on 28 June 2013, which is a biosimilar of Johnson & Johnson’s rheumatoid arthritis blockbuster Remicade. The company also has approval for Remsima from the Korean Ministry of Food and Drug Safety (MFDS, formerly Korea Food and Drug Administration) [1].

Celltrion has an agreement in place with US-based generics major Hospira to develop and market eight biosimilars, including infliximab. The company also has at least six other biosimilars in various stages of development, covering indications such as breast cancer, non-Hodgkin’s lymphoma, colorectal cancer, colon cancer and respiratory syncytial virus [2].

References

1. GaBI Online – Generics and Biosimilars Initiative. Biosimilar monoclonal antibody approved in Korea [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2013 Aug 16]. Available from: www.gabionline.net/Biosimilars/News/Biosimilar-monoclonal-antibody-approved-in-Korea

2. GaBI Online – Generics and Biosimilars Initiative. Celltrion applies for Korean approval of biosimilar trastuzumab [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2013 Aug 16]. Available from: www.gabionline.net/Biosimilars/News/Celltrion-applies-for-Korean-approval-of-biosimilar-trastuzumab

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Source: Bloomberg, Celltrion