Sources are reporting that Korean pharmaceutical company Daewoong Pharmaceutical announced today that it has launched Samfenet, a biosimilar to Roche’s HERCEPTIN® (trastuzumab), in Korea. Samfenet is priced at a 29.5-percent discount to Herceptin, which amassed around $6.5 billion in global revenue last year.
Mylan announced last week that it has entered into a global collaboration and license agreement with Revance Therapeutics, Inc. for development and commercialization of a proposed biosimilar to Allergan’s BOTOX® (onabotulinumtoxinA). Mylan’s press release states that “the companies plan to work together to gain regulatory approval in the development of this important biosimilar product, and commercialize this product in the U.S., Europe and applicable markets throughout the rest of the world.” The press release also notes that the collaboration included an upfront payment of $25 million to Revance, with contingent milestone payments upon achievement of additional clinical, regulatory and sales targets, plus sales royalties in all relevant markets. Revance’s representative noted that “[g]lobal neuromodulator sales today are estimated at $4 billion and forecasted to grow steadily, exceeding $7 billion by 2024.”