There have been two infliximab biosimilars available in the US for over a year, but Johnson & Johnson says reference biologic Remicade still holds a 93% volume share. In 2016, Pfizer launched Inflectra in the US. The following year, Merck & Co. launched Renflexis. With the ensuing price war, the infliximab biosimilars had been touted to end reference biologic Remicade’s market dominance. But after the first full year with all three infliximab products on the market, J&J has reported in…
After building out its manufacturing network, Iceland-based biosimilar developer has raised $300 million to support biosimilar R&D through a private bond offering. “A unit of Morgan Stanley from London was the lead investor acquiring approximately 75% of the total,†Alvotech pokesperson Halldor Kristmannsson told BioProcess Insider. “They in turn syndicated the majority of this to a small number of institutional investors.†While Kristmannsson could not disclose the actual names of those investors, he said the remaining bonds were purchased by a combination…
Advaxis says Amgen’s withdrawal from a 2016 personalized immuno-oncology partnership is due to portfolio rationalization, high cost of goods, and the high-risk of commercialization. In 2016, Amgen teamed up with New Jersey-based Advaxis to co-develop and commercialize Advaxis’ investigational cancer immunotherapy ADXS-NEO in a deal worth up to $540 million (€475 million). But after paying out $78 million, Amgen sent written notice last month alerting Advaxis it is terminating the partnership, effective from February 8, said Advexis in an SEC…