Mylan NV and Momenta Pharmaceuticals Inc. said Friday they would jointly develop and commercialize six biosimilars.
Mylan will make an upfront cash payment of $45 million to Momenta and could pay up to $200 million if milestones are reached. Each company will equally share the development costs and eventual profits.
Mylan will lead world-wide commercialization, and Momenta has the option to co-commercialize in the U.S.
Biological drugs are created by living cells, and biosimilar products are their genetic drugs’ equivalents. To get approval, biosimilars must show they are “highly similar” to an already-approved biological drug. The FDA approved the first biosimilar in March.
The deal includes a biosimilar for Orencia, a rheumatoid arthritis treatment. The biosimilar is in the preclinical stage, and Momenta expects it to enter clinical trials this year. The companies didn’t identify the other five biosimilars in the deal.