Pfenex gets early HSR clearance for collaboration with Hospira

The US Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR Act) in connection with the biosimilars deal between US biotech firm Pfenex (NYSE: PFNX) and Hospira (NYSE: HSP).

The ruling relates to the exclusive collaboration agreement executed by the companies to develop and commercialize, PF582, Pfenex' biosimilar product candidate to Swiss drug major Roche (ROG: SIX) subsidiary Genentech's blockbuster ophthalmic drug Lucentis (ranibizumab injection; The Pharma Letter February 1o).

With the early termination of the applicable waiting period under the HSR Act, the collaboration agreement with Hospira is effective as of March 19, 2015 and the $51 million initial payment under the collaboration agreement is due to Pfenex on or before the fifth business day following HSR clearance.