Amgen Inc. on Tuesday announced an exclusive agreement with Simcere Pharmaceutical Group to co-develop and commercialize four biosimilar drugs in China.
The Thousand Oaks biotech company will be responsible for co-development, marketing and manufacturing of the four biosimilars that are part of its existing biosimilars portfolio. Simcere will be responsible for commercialization and distribution in China.
Simcere is a Chinese pharmaceutical company with over 50 products that treat cancer, cardiovascular disease and rheumatoid arthritis among others.
“We are pleased to enter this strategic collaboration with Simcere as we continue to enhance
patient access through broader adoption of more competitive therapeutic options worldwide,” Scott Foraker, vice president of biosimilars at Amgen, said in a statement. “This agreement brings together Amgen’s long-standing development and biologics manufacturing expertise with Simcere’s local development experience and strong commercial presence in China in the areas of inflammation and oncology.”
The partnership was announced after the market closed on Tuesday. Shares of Amgen (AMGN) closed down 69 cents, or less than a percent, to $185.60 on the Nasdaq.