Simcere Pharmaceutical Group
) recently announced that it has entered into a strategic
Bristol-Myers Squibb Company
The agreement further expands Simcere's association with
Bristol-Myers Squibb which goes back to 2010.
As per the agreement, both companies will collaborate on the
development and commercialization of the subcutaneous (SC)
formulation of Bristol-Myers Squibb's rheumatoid arthritis drug,
Simcere will primarily focus on the development and regulatory
activities which are mandatory to obtain market approval for
Orencia SC in China. Both companies will share profits and losses
related to Orencia SC in China.
Other financial terms of the agreement were not disclosed.
We remind investors that Simcere formed a strategic
partnership with Bristol-Myers Squibb in Nov 2010 to co-develop
candidate BMS-817378 in China while the latter retained rights of
all other markets across the world.
Moreover, Simcere expanded its drug development partnership
with Bristol-Myers Squibb in Dec 2011 to focus on the
co-development of the latter's cardiovascular disease candidate,
Simcere already has drugs like Yingtaiqing and Iremod in its
rheumatoid arthritis franchise. The addition of Orencia will
further strengthen Simcere's portfolio and should boost long-term
We note that Orencia is approved for the treatment of
rheumatoid arthritis in the US, Europe and Japan. Orencia's
SC formulation was launched in the European markets in 2012.
We are encouraged by Simcere's association with Bristol-Myers
Simcere currently carries a Zacks Rank #3 (Hold). Right now,
) look attractive with a Zacks Rank #2 (Buy).
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