Simcere will perform and fund all development and regulatory activities to obtain market approval, based on a pre-agreed development plan. The companies will share commercialization responsibility and profits and losses related to Orencia SC in China. Financial terms were not disclosed.
"Orencia SC is the third program in our R&D collaboration with Bristol-Myers Squibb, underscoring our joint commitment to our broad strategic partnership," said Mr. Hongquan Liu, the chief executive officer of Simcere. "Combining Orencia SC with our existing portfolio in rheumatoid arthritis treatment, we are committed to delivering more innovative and effective medicines to Chinese patients."
"We are pleased to partner with Simcere on Orencia SC, moving beyond our companies' original focus on early development activities to a partnership focused on the clinical development and commercialization of one of our currently marketed products," said Beatrice Cazala, executive vice president, Commercial Operations, BMS. "If successful, not only could Orencia SC bring a new option to Chinese patients suffering from rheumatoid arthritis, but also it could become BMS’ first biologic medicine for the Chinese market."