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Laureate Biopharma to Produce Biosimilar Product for Leading Generics Company

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Laureate Biopharmaceutical Services, Inc., has announced that they have entered into a multi-year development and manufacturing agreement with a leading generic pharmaceutical company to produce a biosimilar product.

Laureate’s services will include transfer of the manufacturing process to Laureate and cGMP manufacture of this product for clinical trials through 2013.

The agreement includes a customer option for long-term commercial supply. Laureate expects to supply the first batch of clinical product during the first half of 2012. Terms of the manufacturing agreement were not disclosed.

“Biosimilars are the immediate growth engine of the generic industry and we are pleased to be working with one of the leading generic companies in the world on this product” said Michael A. Griffith, CEO of Laureate Biopharma.

Griffith continued, “Manufacture of biosimilars is one natural extension of Laureate’s existing portfolio of contract manufacturing services and represents a key strategic step for the company.”