Lupin, Yoshindo form Japanese biosimilars JV

Lupin Ltd. (NSE:LUPIN; BSE:500257) partnered with Yoshindo Inc. (Toyama, Japan) to form YL Biologics, a JV focused on developing biosimilars in Japan. The partners will jointly manage the JV, which will be responsible for clinical and regulatory development. The first compound the JV will develop is Lupin's biosimilar of autoimmune drug Enbrel etanercept from Amgen Inc. (NASDAQ:AMGN) and Pfizer Inc. (NYSE:PFE). Lupin will be eligible for milestones, and Lupin and Yoshindo will market the product in Japan under their own brand names. Takeda Pharmaceutical Co. Ltd. (Tokyo:4502), which co-markets Enbrel in Japan with Pfizer, recorded Y34.4 billion ($326.8 million) in Japanese sales of the drug for the nine months ended Dec. 31, 2013. ...