Mylan, Momenta Reach Biosimilars Deal Worth Up To $245M

Mylan has struck a deal with biotech firm Momenta to develop and commercialize six biosimilar candidates in a deal worth up to $245 million.

Under the arrangement disclosed last week, Mylan will pay $45 million up front to co-develop six prospective products with Momenta and oversee commercialization efforts for products that win approval. Another $200 million is available to Momenta if it meets unspecified milestones.

The deal calls for both sides to share equally in the costs and profits from the venture. It also includes a caveat giving Momenta the option to co-market any approved product in the U.S.

One of the biosimilar candidates is M834, which is designed to mimic the rheumatoid arthritis drug Orencia. According to Momenta’s website, this product is the furthest along of the six and is in preclinical development.

Neither company would identify the other five biosimilar candidates or their therapeutic areas.