Bristol-Myers Squibb and Simcere Enter Partnership to Co-Develop and Co-Commercialize Orencia® SC (abatacept) in China
PRINCETON, N.J. & NANJING, China--(BUSINESS WIRE)--
Squibb Company (NYSE: BMY) and Simcere
Pharmaceutical Group (NYSE: SCR), a leading pharmaceutical company
in China, today announced that the companies have expanded their
strategic relationship formed in 2010. The companies have agreed to
collaborate in China on the development and commercialization of the
subcutaneous (SC) formulation of Bristol-Myers Squibbs biologic
(abatacept), for the treatment of rheumatoid arthritis. SC
is already on the market for the treatment of rheumatoid arthritis in
the U.S., Europe and Japan.
Under the terms of the agreement, Simcere will perform and fund all
development and regulatory activities required to obtain market approval
for SC in China, based on a pre-agreed development plan.
The companies will share responsibility for commercializing
and will share profits and losses related to SC in China.
Financial terms were not disclosed.
SC is the third program in our R&D collaboration with
Bristol-Myers Squibb, underscoring our joint commitment to our broad
strategic partnership, commented Mr. Hongquan Liu, the CEO of Simcere.
Combining a SC with our existing portfolio in rheumatoid
arthritis treatment, we are committed to delivering more innovative and
effective medicines to Chinese patients.
Mr. Hongquan Liu further commented, Moving forward, we will continue to
execute on our partnering strategy and to bring in more late-stage
programs and products already approved outside of China, to complement
our R&D pipeline and strengthen our in-market portfolio.
We are pleased to partner with Simcere on SC, moving
beyond our companies original focus on early development activities to
a partnership focused on the clinical development and commercialization
of one of our currently marketed products, said Beatrice
Cazala, executive vice president, Commercial Operations. If
successful, not only could SC bring a new option to
Chinese patients suffering from rheumatoid arthritis, but also it could
become Bristol-Myers Squibbs first biologic medicine for the Chinese
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information, please
or follow us on Twitter at http://twitter.com/bmsnews.
Simcere Pharmaceutical Group (NYSE:SCR, Simcere) is a leading
pharmaceutical company specializing in the development, manufacturing,
and marketing of branded generic and proprietary pharmaceuticals in
China. Simcere concentrates its research and development efforts on the
treatment of diseases with high incidence and/or mortality rates and for
which there is a clear demand for more effective therapy, including
cancer, strokes, cardiovascular diseases, infectious diseases and pain.
For more information about Simcere Pharmaceutical Group, please visit http://www.simcere.com.
This press release contains forward-looking statements. These statements
constitute "forward-looking" statements within the meaning of Section
21E of the Securities Exchange Act of 1934, as amended, and as defined
in the U.S. Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"anticipate," "believe," "estimate," "expect," "forecast," "intend,"
"may," "plan," "project," "predict," "should" and "will" and similar
expressions. These forward looking statements are based upon
management's current views and expectations with respect to future
events and are not a guarantee of future performance. Furthermore, these
statements are, by their nature, subject to a number of risks and
uncertainties that could cause actual performance and results to differ
materially from those discussed in the forward-looking statements as a
result of a number of factors. Further information regarding these and
other risks is included in Simcere's filing with the U.S. Securities and
Exchange Commission at http://www.sec.gov.
Simcere does not undertake any obligation to update any forward-looking
statement, except as required under applicable law.
Jennifer Fron Mauer
(United States), 609-252-6579, firstname.lastname@example.orgStella
Ling (China), +86-21-2321-8218, email@example.comJohn
Elicker, 609-252-4611, firstname.lastname@example.orgJie
Liu DElia, Simcere (Nanjing), +86-25-8556-6666 ext. 8857Cindy
Zheng, Brunswick Group (United States), 212-333-3810Yue Yu,
Brunswick Group (Beijing), +email@example.com
Source: Bristol-Myers Squibb Company and Simcere Pharmaceutical Group