Merck, Parexel Reach Biosimilar Development Deal
From Associated Press (January 12, 2011)
WHITEHOUSE STATION, N.J. -- Drug maker Merck & Co. said Wednesday it reached a deal with Parexel International Corp. for help developing biosimilar drug candidates.
Biosimilars are copies of biotech-based drugs and are to biotech drugs what generic drugs are to traditional chemical-based pharmaceuticals. New regulations in the U.S. have set up a path for approval of biosimilars, and generics are poised to eventually break into that new market.
Merck, which is based in Whitehouse Station, N.J., said in a statement that Parexel will provide Merck BioVentures access to a broad range of regulatory strategy and clinical development planning capabilities for the development of certain broad classes of biosimilars. The development will range across various therapeutic areas and will include exclusivity for certain candidates.
Financial details were not disclosed.
Parexel is a pharmaceutical research contractor based in Waltham, Mass.
Posted: January 2011