Amgen, Watson to collaborate on oncology biosimilars

(Ref: Yahoo!Finance, Forbes, Amgen, Morningstar)

Amgen and Watson Pharmaceuticals on Monday announced that they will collaborate to develop and commercialise several oncology antibody biosimilar drugs. The companies did not disclose which products they will develop, but noted that they will not pursue biosimilars of Amgen's proprietary products.

Under the terms of the agreement, Amgen will assume primary responsibility for developing, manufacturing and initially commercialising the oncology antibody products. Watson will contribute up to $400 million in co-development costs and share product development risks, as well as lend its expertise in the commercialisation and marketing of products stemming from the collaboration in the generic market. In exchange, Watson is eligible to receive royalties and sales milestones from products, which will be sold under a joint Amgen/Watson label.