Baxter International and Coherus Biosciences, Inc. have entered into an exclusive collaboration to develop and commercialize a biosimilar to etanercept (Enbrel) for Europe, Canada, Brazil and other markets. Coherus will conduct development and Baxter will make an upfront payment of $30 million and as much as $216 million based on development and regulatory milestones. The agreement also allows for development and commercialization of an alternative biosimilar to etanercept.
“The collaboration allows us to partner with a company that brings demonstrated capabilities with potential to support accelerated entry into the biosimilar market for Baxter. This collaboration and Baxter’s ongoing relationship with Momenta expand Baxter’s pipeline, which now includes several biosimilars in the areas of immunology and oncology,” said Ludwig Hantson, Ph.D., president of Baxter’s BioScience business. “As an established biologics leader, we’re looking forward to entering the market with biosimilar treatments that will broaden patient access to care.”
“We are pleased to be partnering with Baxter, a premier healthcare company that shares our strategic commitment to biosimilars,” said Denny Lanfear, chief executive officer of Coherus. “This agreement further validates our unique business model and capability to globally develop products from conception through approval.”