Coherus BioSciences, Baxter deal

Biosimilars company Coherus partnered with Baxter to develop and commercialize a biosimilar of autoimmune drug Enbrel etanercept in Europe, Canada, Brazil and other undisclosed markets. Coherus will receive $30 million up front and will be responsible for development, and Baxter will be responsible for commercialization. Coherus is eligible for up to $216 million in milestones, plus undisclosed royalties. Coherus is already developing the biosimilar in Asia with Daiichi Sankyo Co. Ltd. (Tokyo:4568; Osaka:4568, Tokyo, Japan) under a 2012 deal. Coherus said the biosimilar is in the "early clinical stages" (see BioCentury, May 14, 2012). ...