Mylan and Momenta to jointly develop and commercialise biosimilar products
Partnership builds on existing collaboration with Biocon and positions Mylan as a leader in biosimilars
Mylan has entered into an exclusive global collaboration agreement with Momenta Pharmaceuticals to develop, manufacture and commercialise six of Momenta's current biosimilar candidates, including ORENCIA (abatacept).
Mylan CEO, Heather Bresch, commented: ‘Mylan's long-stated strategy has been to invest in the long-term drivers of our future growth, both through our strong internal focus on R&D and through external collaborations with industry leading partners. Biosimilars have long been one of these areas of important future growth, both for our company and our industry, given the rapidly growing market for biologic products, the undeniable patient need for more affordable versions of these life-saving medicines, and the attractive competitive landscape for the companies that are able to successfully bring these complex products at scale to the global market.’
‘This exciting collaboration with Momenta focuses on the next wave of biosimilar products and represents an important next step for Mylan, leveraging Momenta's unique technology capabilities and Mylan's strong science, biosimilar-development experience, operational excellence and expansive global commercial footprint. Importantly, this collaboration builds on Mylan's existing successful biologics and insulin collaboration with Biocon, which is focused on more near-term biosimilar opportunities. Through these partnerships, as well as the strong internal capabilities we have cultivated, Mylan is further expanding what is already one of the industry's most robust and diverse biosimilar portfolios and helping to ensure we can deliver enhanced access to these critical products to patients around the world,’ continued Bresch.
Craig A. Wheeler, President and Chief Executive Officer of Momenta, said: ‘We are thrilled to welcome Mylan as our new collaboration partner for biosimilars. Our two companies have a common focus on building an industry leading biosimilar portfolio that offers safe, effective and affordable products to the patients that need them. 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. Our joint vision is to bring high quality, cost-effective biosimilar products to markets worldwide, and we believe our success will deliver a strong return to our companies' stakeholders.’
Under the agreement with Momenta, Mylan will make an upfront cash payment of US$45m and up to $200m in contingent milestone-related payments to Momenta, with each company sharing equally in the costs and profits with respect to the products. The companies will be jointly responsible for product development, and Mylan will lead worldwide commercialisation efforts. All other financial terms and product details remain confidential.