PLIVA and Mayne finalise drug development agreement

PLIVA, the Croatian pharmaceutical company, and Mayne, the Australian cancer drug firm, have finalised a new agreement to continue developing biosimiliar granulocyte-colony stimulating factor (G-CSF) for European, Middle East and selected Asian markets.

G-CSF is a growth factor designed to stimulate the body’s bone marrow into producing more white blood cells, which are often suppressed with some types of cancer therapy, rendering patients more susceptible to infections.

The two companies had originally signed an agreement for both G-CSF and Erythropoietin, although the latter part of this agreement was amended because of “increased clinical programme” costs due to recent guidelines and scientific advice.

Under the terms of the collaboration, Mayne will fund clinical development and file G-CSF in the markets it intends to sell the drug, while PLIVA will manufacture the final, commercial product and complete compound development.

A statement from PLIVA read: “G-CSF has made significant progress through development and continues to meet the product development milestones for comparability to Neupogen set by PLIVA and Mayne.”

In related news, the winner of the PLIVA takeover battle may have to wait until October to complete the acquisition. With both Actavis and Barr making offers for the company, Josip Prgomet, of Croatia’s financial services supervisory agency told Reuters: “Looking at the legal framework for this takeover battle, we could expect it to be completed by mid-October.”

The news agency claims that some market observers believe both companies might increase their bids. Last week, Actavis, the Icelandic pharmaceutical company, issued new shares in an attempt to raise funds, possibly for its bid for PLIVA.

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