Mylan, Momenta To Jointly Develop, Commercialize Six Biosimilar Products

(RTTNews) - Generic drug maker Mylan N.V. (MYL) Friday said it would collaborate with Momenta Pharmaceuticals, Inc. (MNTA) to develop, manufacture and commercialize six of Momenta's current bio-similar candidates, including ORENCIA.

As per the exclusive global collaboration agreement, Mylan will make an up-front payment of $45 million in cash and up to $200 million in contingent milestone-related payments to Momenta. Both the companies will equally share the costs and profits with respect to the products.

While both the companies will be responsible for the development of the product, Mylan will lead the commercialization efforts globally. All other financial terms and product details remain confidential.

Mylan said its collaboration with Momenta builds upon its existing biologics and insulin analog partnership with Biocon. The Biocon partnership includes six biosimilar programs and three insulin analogs.