Coherus, Baxter partner for biosimilar Enbrel
Biosimilars company Coherus BioSciences Inc. (Redwood City, Calif.) partnered with Baxter International Inc. (NYSE:BAX) 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) under a 2012 deal. Coherus said the biosimilar is in the "early clinical stages" (see BioCentury Extra, May 7, 2012).
Amgen Inc. (NASDAQ:AMGN) and Pfizer Inc. (NYSE:PFE) co-market Enbrel in the U.S. and Canada, while Pfizer has rights elsewhere. Amgen reported $4.2 billion in 2012 worldwide Enbrel sales. At least five other biosimilars of Enbrel are in development worldwide, including a biosimilar from the Sandoz generics unit of Novartis AG (NYSE:NVS; SIX:NOVN) that is in an international Phase III trial for moderate to severe chronic plaque-type psoriasis. ...