Baxter and Coherus to collaborate on biosimilars

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Baxter and Coherus to collaborate on biosimilars

Biosimilares/Novedades | Posted 06/09/2013 0 Post your comment

Baxter International (Baxter) has made another agreement for biosimilars, this time with fledgling biotech company Coherus Biosciences (Coherus).

The two companies announced on 3 September 2013 that they had entered into an exclusive collaboration to develop and commercialize a biosimilar to etanercept for Brazil, Canada, Europe and certain other markets. The agreement may also be extended to cover development and commercialization of another biosimilar, pending the outcome of clinical data.

Under the terms of the agreement, Baxter will make an upfront payment of US$30 million. Coherus, which was formed in 2010, will develop the biosimilar and Baxter will make payments of up to US$216 million depending on the achievement of development and regulatory events.

Baxter also made an agreement for biosimilars with Momenta back in 2011 for collaboration on up to six biosimilars [1]. Baxter expects this latest agreement with Coherus to support accelerated entry into the biosimilar market for Baxter.

Dr Ludwig Hantson, President of Baxter’s BioScience business, said that ‘this collaboration and Baxter’s ongoing relationship with Momenta expand Baxter’s pipeline, which now includes several biosimilars in the areas of immunology and oncology.’

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Reference

1. GaBI Online - Generics and Biosimilars Initiative. Baxter and Momenta make biosimilars deal [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2013 Sep 6]. Available from: www.gabionline.net/Biosimilars/News/Baxter-and-Momenta-make-biosimilars-deal

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Source: Baxter International, Coherus Biosciences