Kyowa Hakko Kirin and Fujifilm create biosimilar joint venture

Kyowa Hakko Kirin has announced a new collaboration with Fujifilm focusing on the development of new biosimilar treatments.

The companies have reached a basic agreement to establish a joint venture in spring 2012, which will be split 50/50 in terms of capital participation and will aim to deliver highly reliable, high-quality and competitive products.

It will merge Kyowa Hakko Kirin's proprietary technologies and pharmaceutical expertise with Fujifilm's production, quality control technology and analysis innovations, allowing for the cost-effective creation of new drugs.

The aim of the partnership is to begin a clinical trial of a first drug candidate by 2013, allowing both companies to gain a foothold in one of the sector's fastest-growing areas.

Kyowa Hakko Kirin said: "The biosimilars market is set to expand rapidly throughout the world against the backdrop of escalating medical costs and patent expiration of a series of innovative biopharmaceuticals through to 2020."

According to financial data published last month, Kyowa Hakko Kirin has seen a 15.8 percent year-on-year rise in operating profits in the first nine months of 2011.