HELSINKI (dpa-AFX) - Orion Corp. (0M2N.L, ORNAV.HE, ORNBV.HE) and Qilu Pharma Europe have entered into an agreement to commercialise an intravenous (IV) pembrolizumab biosimilar in Europe.
Pembrolizumab is an immune checkpoint inhibitor used to treat various cancers, and Qilu is developing an IV biosimilar version. The original pembrolizumab, marketed by Merck as Keytruda, was first approved by the U.S. FDA in September 2014 and is now approved across numerous cancer indications.
Under the agreement, Orion Pharma will have exclusive rights to distribute, market and sell Qilu's IV pembrolizumab biosimilar in Europe. Qilu will supply the product and receive a share of profits, along with potential development, regulatory and sales milestone payments.
'We are pleased to expand our strategic partnership with Qilu,' said Satu Ahomäki, EVP Generics and Consumer Health, Orion Pharma.
0M2N.L has traded between 34.30 Euros and 81.20 Euros over the last year.
The stock closed Monday's trade at 80.90 Euros, up 0.12%.
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