Hanwha Chemical Corp., Merck deal

Hanwha partnered with Merck to develop and commercialize Hanwha's biosimilar of autoimmune drug Enbrel etanercept. The compound, HD203, is in a Korean Phase III trial to evaluate its equivalence to Enbrel in rheumatoid arthritis (RA). Hanwha received an upfront payment and is eligible for milestones and tiered royalties. Merck is responsible for clinical development and manufacturing, and has exclusive commercialization rights outside of Korea and Turkey, where Hanwha retains rights. Financial details were not disclosed. ...