New Delhi: Drug firms Mylan and Lupin will join hands to commercialise Lupin’s biosimilar etanercept indicated for treating certain autoimmune diseases.
As per the tie-up agreement, US-based Mylan will commercialize Lupin’s proposed etanercept biosimilar in Europe, Australia, New Zealand, Latin America, Africa and most markets throughout Asia, said a joint statement by the companies.
“Under the terms of the agreement, Lupin will receive an upfront payment of USD 15 million and potential commercial milestones together with an equal share in net profits of the product,” it added.
Etanercept is indicated to treat certain autoimmune diseases, including rheumatoid arthritis, psoriatic arthritis, plaque psoriasis and ankylosing spondylitis.
Lupin CEO Vinita Gupta said: “This partnership enables us to accelerate our etanercept market plans across multiple regions globally, as we continue to advance our pipeline of biosimilar candidates.”
Mylan is well-positioned to commercialise Lupin’s etanercept biosimilar given their significant expertise and global infrastructure, she added.
In the similar vein, Mylan President Rajiv Malik said: “The collaboration with Lupin is yet another positive step in our ongoing efforts to bring key biosimilars, like etanercept, to patients around the world as quickly as possible.”
The introduction of biosimilars is an important mechanism to help increase access to more affordable biologics treatments, he added.
Mumbai-based Lupin has successfully completed its etanercept biosimilar phase 3 clinical trial in February 2018 and has filed the product with the European Medicines Agency and plans to file it in other jurisdictions also, the statement said.
According to IQVIA, Enbrel had global brand sales of around USD 11.6 billion for the 12 months ended December 31, 2017, it added.
Ruby Khatun joined Medical Dialogue as Reporter in 2016. She covers all the business news in different categories. She also covers all the updates in Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a post graduate from Jamia Hamdard. She can be contacted at email@example.com Contact no. 011-43720751