Thursday, May 9, 2013

Amgen and Zhejian Beta Pharma form a Joint Venture for commercialization of Amgen's Vectibix in China

Amgen and Zhejiang Beta Pharma Co., Ltd. today announced that the companies have signed an agreement to form a joint venture to commercialize Amgen's Vectibix® (panitumumab) in the Chinese market. Together, Amgen and Zhejiang Beta Pharma aim to quickly and efficiently deliver Vectibix to patients in China.

The joint venture will benefit from Zhejiang Beta Pharma's strong expertise in the development and commercialization of molecularly targeted therapies as well as Zhejiang Beta Pharma's industry-leading oncology sales network in China. Zhejiang Beta Pharma's China capabilities are complementary to Amgen's global expertise in the development and manufacturing of human therapeutics.
According to the agreement, the new joint venture will be named Amgen-Beta Pharmaceuticals Co., Ltd. Zhejiang Beta Pharma will own 51 percent and Amgen will own the remaining 49 percent interest in the joint venture. The creation of the joint venture is subject to the satisfaction of certain closing conditions, including the approval of relevant government authorities in China.


About VectibixVectibix is a prescription medicine used for the treatment of metastatic colorectal cancer (mCRC). It is grouped within a class of medications called biologics, which are therapies derived from human cells. Vectibix is approved in more than 40 countries. 
Vectibix is the first fully human anti-epidermal growth factor receptor (EGFR) antibody approved by the U.S. Food and Drug Administration (FDA) for the treatment of metastatic colorectal cancer (mCRC). Vectibix was approved in the U.S. in September 2006 as a single agent for the treatment of metastatic colorectal carcinoma with disease progression on or following fluoropyrimidine, oxaliplatin and irinotecan chemotherapy regimens. Approval is based on progression-free survival; no data demonstrate an improvement in disease-related symptoms or increased survival with Vectibix.
Retrospective subset analyses of metastatic colorectal cancer trials have not shown a treatment benefit for Vectibix in patients whose tumors had KRAS mutations in codon 12 or 13. Use of Vectibix is not recommended for the treatment of colorectal cancer (CRC) with these mutations.