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Laureate Biopharma to Produce Biosimilar Product for Leading Generics Company
Date:7/25/2011

PRINCETON, N.J., July 25, 2011 /PRNewswire/ -- Laureate Biopharmaceutical Services, Inc., a full-service biopharmaceutical contract development and manufacturing organization, today announced that they have entered into a multi-year development and manufacturing agreement with a leading generic pharmaceutical company to produce a biosimilar product.  Laureate's services will include transfer of the manufacturing process to Laureate and cGMP manufacture of this product for clinical trials through 2013. The agreement includes a customer option for long-term commercial supply.  Laureate expects to supply the first batch of clinical product during the first half of 2012.  Terms of the manufacturing agreement were not disclosed.

"Biosimilars are the immediate growth engine of the generic industry and we are pleased to be working with one of the leading generic companies in the world on this product," said Michael A. Griffith, CEO of Laureate Biopharma. "Manufacture of biosimilars is one natural extension of Laureate's existing portfolio of contract manufacturing services and represents a key strategic step for the company."  

About Biosimilars

Biosimilars are subsequent versions of recombinant therapeutic innovator products manufactured and sold by a different corporate sponsor following expiry of patent exclusivity for the innovator product.  With many innovator biopharmaceutical products going off patent in the next 5-10 years, there is an industry-wide effort to develop corresponding biosimilars. The U.S. FDA was given the authority to approve biosimilars within the Patient Protection and Affordable Care Act of 2010, following similar approvals in the European Union.  

About Laureate Biopharmaceutical Services, Inc.

Laureate Biopharmaceutical Services, Inc. is a full-service biopharmaceutical contract development and manufacturing organization. Laureate Biopharma's scientists are expert
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SOURCE Laureate Biopharmaceutical Services, Inc.
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