Mylan has biosimilar aspirations for Botox
Mylan is teaming up with California-based biotechnology firm Revance Therapeutics to develop and commercialise a biosimilar of Allergan’s world-renowned Botox (onabotulinumtoxinA) injection, as part of Mylan’s long-term strategy to bring to market complex products and biosimilars, as well as to gain traction in the growing global market for neuromodulators.
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Mylan is preparing to launch a trastuzumab biosimilar in the US, while progress of developing bevacizumab and aflibercept biosimilars continues. Insulin aspart and glargine are also in Mylan’s pipeline.
Revance has amended its agreement with Mylan to collaborate on a rival version of Botox to give Mylan more time to decide on whether it wants to continue developing the biosimilar. In turn, Mylan has agreed to pay $5m to Revance for the extended deadline.
Mylan has blamed a sluggish uptake for its Copaxone rival and a delay in FDA approval of its generic version of Advair Diskus for the firm’s sales suffering a 4% drop and EBITDA falling by 8% in 2018.