Hospira Celltrion Agreement

The business cooperation agreement signed on Thursday is expected to reach a final agreement in the coming months, he said. NEW YORK, Oct 8 (Reuters) – Hospira Inc HSP. N said Thursday that it has signed an agreement with South Korean company Celltrion Inc 068270.KQ, which will expand the U.S. generics company`s portfolio in development. The handmade manufacturing organization Celltrion (Incheon, South Korea) and Hospira (Lake Forest, IL), a generic and small molecular pharmaceutical suppliers, have announced their intention to enter into a distribution agreement for eight biosimilars currently being developed by Celltrion. The agreement will allow Celltrion to take advantage of Hospira`s extensive distribution network for its own generic injections. Hospira, according to IMS data and its own figures, holds about 23% of the global market for small molecular generic drugs, in terms of unit sales. The agreement will benefit Hospira by developing its biosimilars portfolio. Hospira launched its first biosimilar Retacrit (Epoetin zeta) in several European countries early last year and applied for approval of a filgrastim biosimilar in the EU. They also have several other biosimilars in development.

Once the agreement is reached, the companies will collaborate in the manufacture and delivery of the products. After administrative approval, Hospira and Celltrion will both market the drugs, with the products being marketed independently under each party`s brand name. The agreement covers the United States, Europe, Australia, New Zealand and Canada. Hospira is the world leader in injectable generic drugs and has the skills and experience to successfully sell biogenic products in these important markets,” said Jung-Sin Seo, CEO and President of Celltrion, in a press release. “We believe this partnership will benefit both companies by combining hospira`s public relations with Celltrion`s advanced organic production capabilities.” Celltrion, which was established in 2002 as a contract manufacturer of protein-based therapeutic products, is currently developing a portfolio of biosimilars. Financial details of the agreement were not disclosed. The cooperation agreement signed today is expected to reach a final agreement in the coming months. But Pfizer is not giving up celltrion. With the acquisition of Hospira in September, the drug manufacturer inherited a Remicade biosimilar already available in Europe with celltrion partners, as well as early knockoffs from Amgens ($AMGN) Neupogen and Neulasta. As part of an agreement with European antitrust authorities, Pfizer has promised to sell eu rights to its own Biosimilar Remicade, currently in Phase III. Hospira has entered into a co-exclusive marketing agreement with Celltrion Health care Corporation, with Celltrion Healthcare Corporation being the manufacturer of the infliximab biosimilar CT-P13 marketed under the trade name INFLECTRA® or REMSIMA®. Celltrion Healthcare Corporation holds the marketing authorization for REMSIMA® (infliximab), CT-P13) in a number of areas and Hospira is the MAH for INFLECTRA® (Infliximab, CT-P13) in a number of areas, some of which overlap with Celltrion Healthcare Corporation.

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