Drug firms Mylan and Lupin will join hands to commercialise Lupin's biosimilar etanercept indicated for treating certain autoimmune diseases.
As per the tie-up agreement, US-based Mylan will commercialise Lupin's proposed etanercept biosimilar in Europe, Australia, New Zealand, Latin America, Africa and most markets throughout Asia, said a joint statement by the companies.
"Under the terms of the agreement, Lupin will receive an upfront payment of USD 15 million and potential commercial milestones together with an equal share in net profits of the product," it added.
Etanercept is indicated to treat certain autoimmune diseases, including rheumatoid arthritis, psoriatic arthritis, plaque psoriasis and ankylosing spondylitis.
Lupin CEO Vinita Gupta said: "This partnership enables us to accelerate our etanercept market plans across multiple regions globally, as we continue to advance our pipeline of biosimilar candidates."
In similar vein, Mylan President Rajiv Malik said: "The collaboration with Lupin is yet another positive step in our ongoing efforts to bring key biosimilars, like etanercept, to patients around the world as quickly as possible."
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