DEERFIELD, Ill. & TAINAN, Taiwan--(EON: Enhanced Online News)--Baxter International Inc. (NYSE: BAX) and ScinoPharm Taiwan, Ltd. (TWSE: 1789) today announced a strategic partnership to develop, manufacture and commercialize five injectable drugs used in a range of cancer treatments, including lung cancer, multiple myeloma and breast cancer, as well as medication to treat nausea and vomiting, common side effects of chemotherapy. The arrangement also provides Baxter the option to partner with ScinoPharm—one of the world’s leading active pharmaceutical ingredient (API) manufacturers—on as many as 15 additional injectable molecules.
Under the terms of the partnership, Baxter and ScinoPharm will collaborate on product development and manufacturing. Baxter will hold commercialization rights, with products included in the arrangement expected to launch beginning in 2020.
“Combining Baxter’s differentiated manufacturing expertise and global commercialization capabilities with ScinoPharm’s recognized API experience enables Baxter to increase patient access to difficult-to-manufacture, high-quality oncolytic medicines,” said Robert Felicelli, president, Pharmaceuticals, Baxter. “The ScinoPharm collaboration will further expand Baxter’s presence in generic injectables, which will continue to be enhanced through our recently executed agreement to acquire Claris Injectables Limited.”
Current branded sales of the initial five products included in this partnership total more than $4 billion annually. These products will join Baxter’s existing portfolio of generic injectable medications, which includes difficult-to-manufacture oncology drugs and a broad portfolio of standard-dose, ready-to-use premixed injectable products such as anti-infectives, analgesics and critical care medicines.
ScinoPharm has a 17-year history of manufacturing APIs for the global pharmaceutical industry with a high level of quality and safety. Under the arrangement, ScinoPharm will provide APIs for the initial five generic injectables, and Baxter and ScinoPharm will share manufacturing responsibilities, with the majority of the molecules to be manufactured at Baxter’s state-of-the-art facility in Halle, Germany, one of the most advanced facilities in the world for manufacturing oncology drugs.
“We are very excited to partner with Baxter. We bring complementary strengths to this arrangement that will ultimately lead to more injectable oncology products on the market,” said ScinoPharm CEO Dr. Yung Fa Chen. “This strategic partnership will boost our expansion in the formulation business, increase market coverage of our products and eventually fuel our further operating performance.”
ScinoPharm Taiwan, Ltd. is a leading process R&D and API manufacturing service provider to the global pharmaceutical industry. With research and manufacturing facilities in both Taiwan and China, ScinoPharm offers a wide portfolio of services ranging from custom synthesis for early phase pharmaceutical activities for brand companies as well as APIs for the generic industry. The Company also is aggressively pursuing a vertically integrated, one-stop-shopping service for drug product customers by expanding into the field of sterile oncological injectable formulations.
Baxter International Inc. provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. The company’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon the company’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.
Forward Looking Statement for Baxter
This release includes forward-looking statements concerning the entry by Baxter and ScinoPharm into a joint development agreement, including expectations regarding the number of molecules to be developed under the partnership agreement and the value of the co-developed molecules. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: the ability of Baxter and ScinoPharm to develop, manufacture and commercialize new molecules in accordance with the terms of the agreement; continued strength in the financial position, including cash flows, of Baxter and ScinoPharm; actions of regulatory bodies and other governmental authorities; changes in laws and regulations; and other risks identified in Baxter’s most recent filing on Form 10-K and other SEC filings, all of which are available on its website. Baxter does not undertake to update its forward-looking statements.
Forward Looking Statement for ScinoPharm
This press release contains forward-looking statements. These forward-looking statements are based on current information and expectations, and are subject to risks and uncertainties, including market conditions and other factors outside of ScinoPharm’s control. Readers are cautioned not to place undue reliance on the forward-looking statements contained herein, which speak only as of the date hereof. ScinoPharm undertakes no obligation to publicly update any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise, except as may be required by law.