New biosimilars company set up in Japan

1 February 2017

Shares in biotech firm Kyowa Hakko Kirin (TYO: 4151) were up 3.9% at 1,581 yen today on news that the Japanese drugmaker has founded a new biosimilars firm, Kyowa Kirin Frontier.

The new firm, which has been capitalized with 100 million yen ($880,000) will be based in Tokyo and led by chief executive Wataru Murata.

The company will focus initially on developing and seeking marketing authorization for a biosimilar version of its own NESP (darbepoetin alfa), an erythropoiesis stimulating agent which is used as a treatment for improving renal anemia.

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