Laureate Biopharmaceutical Services has entered into a multi-year development and manufacturing agreement with a leading generic pharmaceutical company to produce a biosimilar product. The generic company will transfer the manufacturing process to Laureate, which will conduct cGMP manufacturing of this product for clinical trials through 2013. The agreement includes a customer option for long-term commercial supply. Laureate expects to supply the first batch of clinical product during the first half of 2012. Terms of the manufacturing agreement were not disclosed.

“Biosimilars are the immediate growth engine of the generic industry and we are pleased to be working with one of the leading generic companies in the world on this product,” said Michael A. Griffith, Laureate Biopharma’s chief executive officer. “Manufacture of biosimilars is one natural extension of Laureate’s existing portfolio of contract manufacturing services and represents a key strategic step for the company.”