Biosimilars JV set up by Celltrion and Nan Fung Group

South Korea’s Celltrion (Kosdaq: 068270) and privately-held Hong Kong-based Nan Fung Group have established Vcell Healthcare as a joint venture company between both parties, with the news pushing Celltrion’s shares 2.22% higher to 184,500 Korean won.

At the formation of the JV, Vcell Healthcare has simultaneously signed a licensing agreement with Celltrion for the exclusive rights in mainland China to develop, manufacture and commercialize three US Food and Drug Administration and European Medicines Agency approved biosimilar products from Celltrion: CT-P13 (Remsima), CT-P10 (Truxima) and CT-P6 (Herzuma).

Remsima, referencing Johnson & Johnson’s (NYSE: JNJ) Remicade (infliximab), was the first antibody biosimilar approved in the European Union and USA. Remsima has been commercialized in more than 80 countries worldwide. Truxima, referencing Roche’s (ROG: SIX) Rituxan (rituximab), has been approved in the US and EU; and Herzuma, referencing Roche’s Herceptin (trastuzumab), has been approved in the USA, the EU and Japan.