US-based Amgen and Watson Pharmaceuticals will collaborate to develop several oncology antibody biosimilar medicines.
Watson will contribute up to $400m to support Amgen, which will assume primary responsibility for manufacturing and initially commercialising the oncology products, expected to be sold under a joint Amgen/Watson label.
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Amgen president and COO Robert Bradway said, "The pairing of Amgen’s 30 years of experience in biologics together with Watson’s substantial generics and speciality pharmaceutical experience, and complementary commercial and distribution capabilities, provides great potential for worldwide patient access to high-quality oncology biosimilar medicines.
"Biosimilars provide an exciting long-term growth opportunity for Amgen. We have a dedicated team to leverage existing capabilities and capacity and drive the success of the collaboration."
Watson will initially receive royalties and sales milestones from product revenues.
CEO and president of Watson Paul Bisaro said, "We believe that biosimilars are the next frontier in the evolution of the healthcare market, and we are prepared to bring all of our resources to bear in this collaboration to ensure this partnership can most effectively compete in the biosimilar space, and thereby generate significant long-term value for our respective shareholders."
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By GlobalDataCaption: Amgen will take responsibility for manufacturing oncology medicines. (Image courtesy of Karen Struthers.)
