Huahai, Oncobiologics Partner On Biosimilar Monoclonal Antibodies
Oncobiologics, Inc. and Zhejiang Huahai Pharmaceutical Co., Ltd have agreed to jointly develop, manufacture, and commercialize biosimilar monoclonal antibody products.
AsianScientist (May 13, 2013) - Cranbury, New Jersey-based Oncobiologics, Inc. and Zhejiang Huahai Pharmaceutical Co., Ltd have signed an alliance agreement for the development, manufacture, and commercialization of biosimilar monoclonal antibody products.
The scope of the agreement includes exclusive commercialization by Huahai of four biosimilars developed by Oncobiologics and manufactured in China at a Huahai biologics facility for the China market, and the co-development and commercialization of these biosimilars in 30 countries such as the U.S., E.U., Japan, Canada, and Australia.
The four biosimilars are generic versions of Humira®, Rituxan®, Avastin®, and Herceptin®. These biologics are popular around the world for their respective cancer and immune-disease indications, representing an annual global revenue of more than US$40 billion with more than US$20 billion in the countries covered by this agreement.
"This partnership is an important step toward introducing affordable, high-quality biotherapeutics to China. Huahai is thrilled to partner with Oncobiologics, which brings us excellent biologics development and manufacturing capability, and a deep knowledge of the scientific and quality requirements within the developed world," said Vice Chairman of Zhejiang Huahai and CEO of Huahai U.S., Mr. Jun Du.
The partnership is planning to launch its first product by late 2016, with local partners to drive commercialization in these 30 countries. Financial terms were not disclosed.
"Huahai is a leader in small-molecule pharmaceuticals in China, and was the first company in China to receive finished product manufacturing approval from the US FDA. They are distinguished by commercial strength in China and a deep quality culture in their operations, which is essential as we partner to create a strong biologics capability there," said Oncobiologics Founder & CEO Pankaj Mohan, Ph.D.
Source: Oncobiologics Inc.
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