Teva Pharmaceutical Industries Ltd. has acquired the exclusive rights to commercialize two Celltrion biosimilar candidates as part of a new $150m deal with the Korean company.
The partnership comes into force with Celltrion, Inc and their distribution partner Celltrion Healthcare. The two biosimilar candidates in question – CT-P10 and CT-P6 – will remain the responsibility of Celltrion to finish development and deal with any regulatory issues, but the commercial aspect will now be handled by Teva as they seek to gain new footholds in the biosimilars market.
The two candidates are close to the final process ahead of being submitted for review. CT-P6 is designed to treat breast cancer, similar to Roche Holdings AC’s drug Herceptin. CT-P10 is a monoclonal antibody biosimilar to the drug (also of Roche Holdings) Rituxan, which is approved for the treatment of a variety of health issues, such as Rheumatoid Arthritis, non-Hodgkins Lymphoma, and chronic Lymphocytic Leukemia. CT-P10 is under review in the EU, while plans are underway to submit CT-P6 for review in the current quarter. The deal between Teva and Celltrion will allow the former to take over commercial responsibilities for the US and Canada, where biosimilars have been making increasing gains in recent years.
The price for the deal from Teva will be the sum of $160 million, to be paid up front before profits from the development and commercialization of both drugs are distributed between the two companies. Teva continues to be active in finding new biosimilars as a key component of their business plan, helping to diversify and provide competition for otherwise expensive drug types in the market. The development in biosimilars is believed to be one of the major changes on the horizon for the pharmaceutical industry, as alternatives to existing drugs are developed at increasingly rapid rates.
With plenty of new biosimilars gaining FDA approval, Teva could be at the forefront of a major development which will have wide-ranging effects not just on the pharmaceutical industry, but across the medical profession as a whole.
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