Baxter International and Coherus Biosciences, a pure-play biosimilars company. have entered into a collaboration to develop and commercialize a biosimilar of etanercept for Europe, Canada, Brazil, and certain other markets. Additionally, the agreement allows for the expansion of the collaboration to include another product.
Under the agreement, Baxter will make an upfront payment of $30 million. Coherus will conduct development, and Baxter will make payments of up to $216 million contingent upon the achievement of development and regulatory events. The agreement also allows for development and commercialization of an alternative biosimilar to etanercept, pending the outcome of clinical data.
Source: Baxter International