Laureate signs pact to produce biosimilar product

Under a development and manufacturing deal, Laureate will be responsible for manufacturing the biosimilar product for clinical trials through 2013.

Laureate anticipates for supplying the first batch of clinical product during the first half of 2012.

Further terms of the manufacturing agreement were not disclosed.

Laureate CEO Michael Griffith said Biosimilars are the immediate growth engine of the generic industry.

"Manufacture of biosimilars is one natural extension of Laureate’s existing portfolio of contract manufacturing services and represents a key strategic step for the company," Griffith said.