Amgen & Simcere Plot Long Run On Biosimilars In China
The strategic alliance between Amgen and Simcere Pharmaceutical to develop biosimilars in China was officially kicked off in Nanjing city last week, amid heightened excitement around China’s newly issued opinions on deepening reforms to encourage drug innovation including biosimilars. With the favorable opportunities, Amgen is open to establishing more local partnerships as its core China strategy.
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Third-quarter biopharma financing, which totaled $12.5 billion, was dominated by follow-on public offerings, which represented virtually half the value. Acquisition activity was headlined by a major move by Gilead in the CART market. Five alliances were signed worth over $1 billion, led by a partnership between two key players, Merck & Co. and AstraZeneca.
Sanofi is joining the biosimilars trend to tap into China through a local partnership with Taiwan's JHL Biotech, initially focusing on rituximab, a biosimilar product that has great market potential but strong competition in development by domestic peers.
While some multinationals appear concerned about China's slowing economy and their business prospects in this market, others are forging ahead with major new investments, including Pfizer, which has just unveiled plans for a large biosimilars production and R&D site.