Mylan N.V. (NASDAQ:MYL) revealed Wednesday that it is partnering with Fujifilm Kyowa Kirin Biologics Co. Ltd. to market Adalimumab, a biosimilar to the blockbuster drug Humira, across Europe.
AbbVie Inc.'s (NYSE:ABV) Humira is a TNF-inhibitor aimed at treating multiple chronic inflammatory conditions. It is one of the world's top-selling biologic medications, reporting brand sales of as much as US$4.1bln across Europe last year, according to IQVIA, a health consultancy.
Humira is used to treat an array of diseases, ranging from rheumatoid arthritis and Crohn’s disease to ulcerative colitis and plaque psoriasis.
“Our partnership with Fujifilm Kyowa Kirin Biologics for an Adalimubab biosimilar in Europe is an exciting advancement for Mylan and for patients who are living with chronic autoimmune conditions and need access to a high-quality, more affordable treatment option,” said Heather Bresch, Mylan’s chief executive, in a statement.
Under the terms of its agreement, Fujifilm Kyowa Kirin Biologics gives Mylan an exclusive license to commercialise the Adalimumab biosimiliar in Europe and will receive an undisclosed upfront fee. It will also receive an additional payment depending on futures sales as well as royalties.
Deal for non-narcotic painkiller Meloxicam
In related news, Mylan has also sealed a deal to acquire the development and marketing rights from Prayog Labs LLC for a quick-acting Meloxicam that can be used as a non-narcotic painkiller.
This drug has the potential to provide a non-addictive treatment for the acute pain endured during dentistry, after surgery and with orthopedic defects. In the face of the outcry over addictions caused by opioids, Mylan says it is committed to offering non-addictive painkillers.
“Offering an alternate, non-opioid pain treatment option represents at least a step toward addressing this national health crisis,” said Bresch.
In afternoon trade, Mylan shares held steady at US$41.75 in New York.
Clarification: The headline was revised to reflect the fact that Adalimumab is a biosimilar to the drug Humira, not a generic version