Shire punts late-stage biosimilars of Humira and Enbrel back to Momenta, Coherus
Just days after Amgen won an FDA approval for the first biosimilar of AbbVie’s Humira, Shire $SHPG has decided to throw away its partnership rights in a rival program now in Phase III. Shire simultaneously cut loose of a separate deal with Coherus $CHRS on developing an Enbrel biosimilar, which was also inherited in its Baxalta acquisition.
Cambridge, MA-based Momenta Pharmaceuticals says Shire is handing back rights to M923, one of several copycats of the megablockbuster autoimmune drug. But Shire remains on the hook for its share of the development costs for another year, which may well take this drug right up to an FDA application. Coherus, meanwhile, says that it has successfully navigated a pair of Phase III studies for CHS-0214 and will now recognize $162.6 million as collaboration and license revenues in 2016.
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