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news.Bristol-Myers Squibb and Simcere Pharmaceutical Group have extended their collaboration to develop and commercialize the subcutaneous (SC) formulation of Bristol-Myers Squibb's biologic medicine, Orencia (abatacept), in China.
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Orencia was developed to treat rheumatoid arthritis and already exists in the markets of US, Europe and Japan.
As per the agreement, Simcere will carry out and fund all the development and regulatory activities that are necessary to obtain market approval for Orencia SC in China, based on a pre-agreed development plan.
Simcere CEO Hongquan Liu said that the Orencia SC is the third program in the company’s R&D collaboration with Bristol-Myers Squibb, underscoring its joint commitment to their broad strategic partnership.
"Combining Orencia SC with our existing portfolio in rheumatoid arthritis treatment, we are committed to delivering more innovative and effective medicines to Chinese patients," Liu added.
Both the companies planned to share the responsibility of commercializing the product, and will even share the profits and losses too related to the product.
Financial terms of the agreement were not disclosed.