Boehringer Ingelheim returns development and commercial rights of olmutinib to Hanmi Pharmaceutical
Ridgefield, Conn., September 30, 2016 – Boehringer Ingelheim announced that development and global commercialization rights of olmutinib, a third-generation EGFR targeted therapy, will be returned to Hanmi Pharmaceutical Co. Ltd.
The decision is based on a re-evaluation of all available clinical data on olmutinib and recent treatment advances made in the treatment of EGFR mutation-positive lung cancer. Boehringer Ingelheim will not initiate new clinical trials for this compound and will work closely with Hanmi Pharmaceutical to ensure a seamless transition of the responsibilities of the current olmutinib clinical development program back to Hanmi Pharmaceutical.
Dr. Jörg Barth, Corporate Senior Vice President, Therapeutic Area Head Oncology, Boehringer Ingelheim said, “We would like to thank Hanmi Pharmaceutical for their collaboration and commitment during our joint development of olmutinib. Partnering is a key pillar of our oncology strategy at all stages of research and development, in order to offer cancer treatments that fit the needs of patients, caregivers and healthcare professionals. Boehringer Ingelheim’s oncology pipeline is robust and transformative, with several compounds currently in clinical development and we strive for best-in-class, breakthrough cancer medications.”
Boehringer Ingelheim has successfully launched two products for the treatment of non-small cell lung cancer (NSCLC), which have been widely adopted and established as important additions to current clinical practice. The company continues to increase its investment in research and development and a third of Boehringer Ingelheim’s human pharmaceutical pipeline, that is planned to enter phase I clinical trials in the next 12 months, is in oncology.
Boehringer Ingelheim’s oncology pipeline is built on in-house scientific innovation as well as strong academic and industry collaborations. Two recent examples include a partnership with ViraTherapeutics to develop novel cancer treatments based on oncolytic viruses, with an option to acquire the company at a later time point. The other strategic collaboration is with Sarah Cannon Research Institute (SCRI) that brings together Boehringer Ingelheim’s extensive experience in cancer drug development and SCRI’s expertise in designing and executing clinical trials of investigational oncology drugs.
About Boehringer Ingelheim in Oncology
Boehringer Ingelheim’s oncology research is driven by a passion to advance clinical practice and a determination to improve the lives of patients who are battling cancer. Through our own scientific innovation and partnerships, we are focused on discovering and providing novel best-in-class, breakthrough cancer medications that fit the needs of patients, caregivers and healthcare professionals. We have a clear strategy to become a leader in the field of lung cancer. Boehringer Ingelheim has successfully launched two products globally for NSCLC that have been widely adopted and established as valuable additions to current clinical practice. Continuous insights and learnings from research and development are key parts of innovation and our way forward to advance clinical practice in lung cancer and other cancer types.
Boehringer Ingelheim Pharmaceuticals, Inc., based in Ridgefield, CT, is the largest U.S. subsidiary of Boehringer Ingelheim Corporation.
Boehringer Ingelheim is one of the world’s 20 leading pharmaceutical companies. Headquartered in Ingelheim, Germany, the company operates globally with 145 affiliates and more than 47,000 employees. Since its founding in 1885, the family-owned company has been committed to researching, developing, manufacturing and marketing novel treatments for human and veterinary medicine.
Boehringer Ingelheim is committed to improving lives and providing valuable services and support to patients and their families. Our employees create and engage in programs that strengthen our communities. To learn more about how we make more health for more people, visit our Corporate Social Responsibility Report.
In 2015, Boehringer Ingelheim achieved net sales of about $15.8 billion (14.8 billion euros). R&D expenditure corresponds to 20.3 percent of its net sales.
Source: Boehringer Ingelheim Pharmaceuticals, Inc.
Posted: September 2016