Also known as follow-on biologic, a biosimilar is a biologic medical product that is almost identical to an original product manufactured by a different company.
Biosimilars have the ability to increase patients’ access to important medicines.
Under the deal, Daiichi Sankyo will market several Amgen biosimilars that are in late-stage development, such as the biosimilars of adalimumab, trastuzumab and bevacizumab.
Amgen Biosimilars vice-president and general manager Scott Foraker said: “Amgen is excited to collaborate with Daiichi Sankyo as we seek to drive adoption and build confidence in biosimilars, as a means of enhancing patient access to more affordable therapeutic options worldwide.”
As part of the agreement, Amgen will continue to be responsible for the development and production of the biosimilars, while Daiichi Sankyo will file for marketing approval and carry out the distribution and commercialisation of the products in Japan.
However, Amgen will have a limited right to co-promote the products in Japan and also retain all additional distribution, as well as commercialisation rights for the biosimilar programmes outside of the country.
Specific financial terms of the deal between the two companies have not yet been disclosed.
Amgen Biosimilars intend to develop and manufacture the latest and effective human therapeutics in a bid to help the company reach out to more patients suffering from serious illnesses.