The rumors are true: When it comes to biosimilars, Merck KGaA has had enough.
The German drugmaker is in advanced negotiations to sell its unit of biologic copycats, it said in its 2016 annual report (PDF).
The confirmation follows an October report from Reuters that the company had brought on JPMorgan Chase & Co. to help it scout potential buyers for the business. Sources at the time said it could fetch up to $1 billion.
Merck has been collaborating with Indian generics maker Dr. Reddy’s on biosimilars development since 2012, but the team has yet to bring a product to market. Its pipeline includes a copy of AbbVie’s Humira currently in phase 3 testing.
Many of the company’s rivals are further along: Novartis’ Sandoz and Pfizer already have biosimilars on the scene in the U.S., and Amgen’s Humira copy is awaiting launch following a September FDA approval. And as the market begins to crowd, companies still playing catch-up may have to slash prices to nab a piece of the pie. That wouldn’t be good for the latecomers and their revenue prospects—and it would drag down the sales potential for earlier-to-market meds, too.
Merck KGaA isn’t the only drugmaker trying to bail on biosims. Late last month, Allergan CEO Brent Saunders told Bloomberg his company would likely do the same after it wraps up the four cancer-drug copies it’s currently developing with Amgen.
Meanwhile, biosimilars may not be the only unit Merck bids farewell in the near future. Each of the company’s divisions is under an ongoing review, CEO Stefan Oschmann told reporters Thursday, according to Reuters.
By Carly Helfand
Source: Fierce Pharma
The companies will explore opportunities to apply Flagship’s innovative bioplatforms – an ecosystem that currently comprises 41 companies – to scientific challenges in disease areas within cardiometabolic and rare diseases and initiate research programmes based on these.
BD is expanding its long-running partnership with the blood collection company Babson Diagnostics. The two companies have been working together since 2019 on a device that can gather small volumes of blood from the capillaries in the fingertip without requiring any specialized training, and beginning with a focus on supporting primary care in retail settings.
Wednesday, Australian biotech CSL said (PDF) the regulatory review of its $11.7 billion acquisition of Switzerland’s Vifor Pharma will take “a few more months,” suggesting it won’t be able to close the transaction by June 2022 as previously expected.
