Date: 2011-12-19
Type of information: Development agreement
Compound: oncology biosimilar products
Company: Amgen (USA - CA) Watson Pharmaceuticals (USA - NJ), now Actavis (Ireland), now Allergan (Ireland)
Therapeutic area: Cancer - Oncology
Type agreement: development commercialisation
Action mechanism: biosimilar
Disease:
Details: * On December 19, 2011, Amgen and Watson Pharmaceuticals announced that they will collaborate to develop and commercialize, on a worldwide basis, several oncology antibody biosimilar medicines. This collaboration reflects the shared belief that the development and commercialization of biosimilar products will not follow a pure brand or generic model, and will require significant expertise, infrastructure, and investment to ensure safe, reliably supplied therapies for patients. Under the terms of the agreement, Amgen will assume primary responsibility for developing, manufacturing and initially commercializing the oncology antibody products. Watson will contribute up to $400 million in co-development costs over the course of development, including the provision of development support, and will share product development risks. In addition, Watson will contribute its significant expertise in the commercialization and marketing of products in highly competitive specialty and generic markets, including to help effectively manage the lifecycle of the biosimilar products. The collaboration products are expected to be sold under a joint Amgen/Watson label. Watson will initially receive royalties and sales milestones from product revenues. The collaboration will not pursue biosimilars of Amgen's proprietary products.
Financial terms:
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