Mylan doubles biosimilar pipeline in $245m Momenta deal
Generics Giant Mylan is developing six biosimilar products and three generic insulins in a joint venture with Indian drugmaker Biocon. On Friday it added another six products to its portfolio in an exclusive global collaboration agreement with Momenta.
Mylan will pay $45m (€42m) upfront to co-develop, manufacture and commercialize six of Momenta’s copycat biologics, including M834 – a version of Orencia (abatacept), Bristol-Myers Squibb’s fusion protein for the treatment of rheumatoid arthritis.
Mylan spokesperson Nina Devlin told this publication details of the other five products were not being disclosed, but added “there is no cross-over with Biocon portfolio; they are complementary.”
The two firms will share the development costs and future profits, but Momenta could receive up to $200m in contingent milestone-related payments from Mylan.
The collaboration focuses on “the next wave of biosimilar products,” according to Mylan CEO Heather Bresch who said the rapidly expanding sector was an area of “important future growth” for Mylan.
Momenta’s CEO Craig Wheeler added:“By combining Momenta's proven capabilities in complex-product development and Mylan's world-class global R&D, supply chain and commercial infrastructure, we are well positioned to become a strong competitor in this developing field.”
M834 is Momenta’s second most advanced biosimilar candidate after M923, a biosimilar version of AbbVie’s Humira (adalimumab) being developed with Baxalta. The others have not been disclosed.
Mylan and Biocon – which are also developing a Humira biosimilar - have already seen regulatory success, with their version of Roche’s Herceptin (trastuzumab), Canmab, being approved in India in December 2013.
Biocon said in October Canmab was one of five biosimilars it was looking to file in Europe and the US by 2017.
The others are versions of Humira , Neulesta (pegfilgrastim) and Roche’s Avastin (bevacizumab) - currently in Phase III clinical trials – and a generic Insulin Glargine.