REDWOOD CITY, Calif. and TOKYO, May 7, 2012 /PRNewswire/ -- Coherus BioSciences, Inc (hereafter, Coherus BioSciences) and Daiichi Sankyo, Co. Ltd. (hereafter, Daiichi Sankyo; TSE 4568) announced today the execution of an exclusive agreement to develop and commercialize biosimilar forms of etanercept and rituximab in certain Asian countries including Japan.
Under the terms of the agreement, Daiichi Sankyo and Coherus BioSciences will work together to develop, manufacture and commercialize biosimilar forms of etanercept and rituximab developed by Coherus BioSciences. Upon marketing approval, Daiichi Sankyo will commercialize these products in Japan, South Korea and Taiwan. Coherus has retained all additional development and commercial rights outside of the licensed territories. Specific financial terms of the agreement were not disclosed.
"This collaboration to develop and commercialize these biosimilar candidates with a leading global healthcare company such as Daiichi Sankyo is a significant strategic event for Coherus BioSciences and validates our unique business model strategy," said Denny Lanfear, Chief Executive Officer. "This agreement demonstrates that our strategy and model position us well to make a major impact toward providing access to biosimilar therapies for patients on a global basis."
"Coherus BioSciences has established an outstanding business model, a very experienced biologic development team and outstanding capabilities," said Joji Nakayama, President & CEO of Daiichi Sankyo. "By creating an opportunity for an early entry into the biosimilars market, this agreement will strengthen our internal platform for manufacturing and developing biopharmaceuticals, leading directly to the introduction of other biosimilars therapies in the future."
|SOURCE Coherus BioSciences|
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