Momenta, Mylan to Jointly Develop Six Biosimilars
January 08 2016 - 9:50AM
Dow Jones News
Mylan NV and Momenta Pharmaceuticals Inc. said Friday they would
jointly develop and commercialize six biosimilars.
Mylan will make an upfront cash payment of $45 million to
Momenta and could pay up to $200 million if milestones are reached.
Each company will equally share the development costs and eventual
profits.
Mylan will lead world-wide commercialization, and Momenta has
the option to co-commercialize in the U.S.
Biological drugs are created by living cells, and biosimilar
products are their genetic drugs' equivalents. To get approval,
biosimilars must show they are "highly similar" to an
already-approved biological drug. The FDA approved the first
biosimilar in March.
Mylan shares rose 1.7%, and Momenta shares jumped 4.1% in
premarket trading.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
January 08, 2016 09:35 ET (14:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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