Shire Kills Momenta Biosim Deal
Shire has terminated its collaboration with Momenta Pharma to develop and commercialize a Humira biosimilar.
At the start of 2016, UK-based Shire struck a $32 bn deal to acquire U.S. rival, Baxalta. The collaboration between Baxalta and Momenta to develop and commercialize M923, a proposed Humira biosimilar, met a primary endpoint in December 2015.
As part of the Shire-Baxalta deal, Shire sought to achieve double-digit revenue growth with total revenue to exceed $20 billion by 2020. According to Momenta, Shire terminated the partnership “based on a comprehensive portfolio assessment.”
Shire will now begin to work to transfer all ongoing clinical, regulatory and commercialization activities for M923 to Momenta.
Read the BBC news coverage