Daiichi Sankyo and Coherus to collaborate on biosimilars

Daiichi Sankyo has entered into an agreement with Coherus BioSciences on the development and commercialisation of new biosimilar products.

Under the terms of the deal, the two companies will work together to develop, manufacture and market biosimilar forms of etanercept and rituximab for an undisclosed fee.

Upon approval of these products, Daiichi Sankyo will handle their distribution in the Asian markets of Japan, South Korea and Taiwan, while Coherus will retain all additional development and commercial rights in other territories.

Joji Nakayama, president and chief executive officer of Daiichi Sankyo, praised Coherus for its established experience and capabilities, as well as its "outstanding business model".

He added: "This agreement will strengthen our internal platform for manufacturing and developing biopharmaceuticals, leading directly to the introduction of other biosimilars therapies in the future."

This comes after the company agreed a collaboration with NGM Biopharmaceuticals in March 2012 on the development of new therapies for diabetes.