Hikma gains US rights to BAT2206, a proposed biosimilar to Stelara
China’s Bio-Thera Solutions (688177.SH) and London-listed Hikma Pharmaceuticals (LSE: HIK) have entered into a commercialization and license agreement to commercialize BAT2206, a monoclonal antibody that is a proposed biosimilar referencing Johnson & Johnson’s (NYSE: JNJ) Stelara (ustekinumab), in the USA.
The drug, which is used to treat a variety of autoimmune diseases including ulcerative colitis and psoriasis, notched up global sales of $7.7 billion for the US healthcare giant last year, and $2.27 billion in the second quarter of this year.
Under the agreement, Bio-Thera will maintain responsibility for development, manufacturing, and supply of BAT2206. Hikma will have exclusive rights to commercialize the product in the USA. The agreement also provides Hikma with a first-right-to-negotiate to add Europe (excluding CIS countries). Bio-Thera is eligible for an upfront payment of $20 million as well as further development and commercial milestones of up to $130 million.
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