Watson will contribute up to $400 million in co-development costs.
Amgen and Watson Pharmaceuticals inked a global collaboration to develop and commercialize a number of oncology biosimilars. Under terms of the deal Amgen will take on the primary responsibility for developing, manufacturing, and initially commercializing oncology antibody products. The collaboration will not include developing biosimilars of Amgen’s proprietary products.
Watson will contribute up to $400 million to the collaboration in co-development costs, including development support, and share development risks. The firm will also provide input in terms of expertise in the commercialization and marketing of specialty pharmaceuticals and generics, and help manage the lifecycle of biosimilars developed through the partnership. Watson will initially receive royalties and sales milestones from product revenues. Resulting products are expected to be marketed under a joint Amgen/Watson label.
“Biosimilars provide an exciting long-term growth opportunity for Amgen,” comments the firm’s Robert A. Bradway, president and CEO. “The pairing of Amgen’s 30 years of experience in biologics together with Watson’s substantial generics and specialty pharmaceutical experience and complementary commercial and distribution capabilities provides great potential for worldwide patient access to high-quality oncology biosimilar medicines.”