Shire (SHPG) Terminates HUMIRA Biosimilar Collaboration Agreement with Momenta Phama (MNTA)
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Momenta Pharmaceuticals, Inc. (Nasdaq: MNTA) announced that Shire has exercised its right to terminate its collaboration agreement with the Company to develop and commercialize M923, a proposed biosimilar of HUMIRA (adalimumab), based on a comprehensive portfolio assessment following the acquisition of Baxalta. Under the terms of the 2011 collaboration agreement, the agreement will terminate twelve months following the notice and Shire will continue to be obligated to fund the M923 program until termination. Shire will begin to work to transfer all ongoing clinical, regulatory and commercialization activities to Momenta.
“Baxalta has been a strong collaborative partner and we thank them for their efforts in advancing this important program through late-stage clinical development,” said Craig Wheeler, President and CEO of Momenta. “We view Shire’s decision as a significant opportunity for us to capture additional value from this program for the Company and its shareholders. We remain very excited about the potential for our biosimilar HUMIRA candidate and look forward to reporting top-line results of the current Phase 3 trial of M923 in late 2016.”
About M923, a proposed biosimilar of HUMIRA® (adalimumab)HUMIRA, the largest selling therapeutic on the market today, is a significant intervention for patients with autoimmune/inflammatory diseases. Adalimumab is used to treat many such conditions including rheumatoid arthritis, juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, Crohn's disease, ulcerative colitis and plaque psoriasis. M923 is currently in a Phase 3 pivotal trial in patients with chronic plaque psoriasis to compare the safety, efficacy and immunogenicity of M923 with HUMIRA.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Shire's (SHPG) Phase 3 Investigational Study of VONVENDI Meets Primary Endpoint in Controlling Bleeding in Adults with VWD
- NeuroDerm (NDRM) Announces Top-Line Data from ND0701 PK Trial; Results Comparable to Reference Drug
- Senseonics Holdings (SENS) Enters Expanded Distribution Agreement with Roche (RHHBY)
Create E-mail Alert Related CategoriesCorporate News, FDA, Hot Corp. News
Related EntitiesDefinitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!