Biogen Tests Biosimilars Waters In Joint Venture With Samsung
A joint venture with Korean conglomerate Samsung will be limited to making generic versions of non-Biogen products, although Samsung separately is working on a biosimilar of rituximab.
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If 2010 was the year when pharma introduced new models, 2011 was the year it discovered that executing on its plans required a new mindset. There was a realization that pharma input and capital were required at the earliest stages of company creation. Innovation remained the order of the day, though pharma’s attempts to innovate looked strikingly similar to one another. We continued to see risk-sharing deal structures, emphasis on emerging markets, ongoing externalization and the biotech-ification of pharma, and stronger emphasis on “unmet medical need. Pharma also did more to work with VCs, payors, generics companies, and each other. The year saw a recovery in US drug approvals and launches, but the high prices associated with some of those new therapies and austerity in Europe also shed light on the health technology assessment-dominated future that likely faces most markets, including the US.
Wall Street is eagerly awaiting formal guidance from FDA on the new biosimilar pathway in the US. Biotech companies large and small aren't waiting.
Biosimilars took center stage during the last two weeks of 2011, as Amgen and Watson and then Baxter and Momenta followed up on the collaboration between Biogen Idec and Samsung BioLogics earlier in the month.