Mylan Joins With India's Lupin To Commercialize Enbrel (Etanercept) Biosimilar

(RTTNews) - Drugmaker Mylan N.V. (MYL) announced Thursday its partnership with Indian generics pharmaceutical company Lupin Limited to commercialize a biosimilar to Enbrel (etanercept).

Under the terms of the agreement, Lupin will receive an up-front payment of $15 million and potential commercial milestones together with an equal share in net profits of the product.

Through the partnership agreement, Mylan will commercialize Lupin's proposed etanercept biosimilar in Europe, Australia, New Zealand, Latin America, Africa and most markets throughout Asia.

Enbrel is a TNF-inhibitor indicated to treat certain autoimmune diseases, including rheumatoid arthritis, psoriatic arthritis, plaque psoriasis and ankylosing spondylitis. Enbrel had global brand sales of approximately $11.6 billion for the 12 months ended December 31, 2017, according to IQVIA.

Lupin successfully completed its Etanercept biosimilar Phase 3 clinical trial in February 2018. Lupin has filed the product with the European Medicines Agency and plans to file the product in other jurisdictions.