Biopharmaceutical companies, Bristol-Myers Squibb Company (BMY), and Simcere Pharmaceutical Group (SCR) Friday said they have agreed to collaborate in China on the development and commercialization of the subcutaneous (SC) formulation of Bristol-Myers Squibb's biologic medicine, Orencia (abatacept), for the treatment of rheumatoid arthritis. This marks an expansion of their strategic relationship formed in 2010. Financial terms were not disclosed.
Pursuant to the agreement, Simcere will perform and fund all development and regulatory activities required to obtain market approval for Orencia SC in China, based on a pre-agreed development plan. The companies will share responsibility for commercializing Orencia, and will share profits and losses related to Orencia SC in China. Orencia SC is already on the market for the treatment of rheumatoid arthritis in the U.S., Europe and Japan.
Beatrice Cazala, executive vice president, Commercial Operations of Bristol-Myers Squibb said, "...If successful, not only could Orencia SC bring a new option to Chinese patients suffering from rheumatoid arthritis, but also it could become Bristol-Myers Squibb's first biologic medicine for the Chinese market."
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