Boston, MA 04/24/2014 (wallstreetpr) – Bristol-Myers Squibb Co (NYSE:BMY) and Samsung BioLogics have extended their manufacturing agreement to develop and produce biologic medicines for Bristol-Myers. Samsung will carry out the manufacturing operation at its Incheon site which is likely to complete by 2015.
Strategic relationship
Since July 2013, Bristol-Myers Squibb Co (NYSE:BMY)-Myers partnered with Samsung BioLogics to produce commercial antibody drug substance for cancer. Now, both the companies have extended their relationship to strengthen the production capacity and expand its services worldwide. As a result, Bristol-Myers will help to improve its pipeline portfolio for specialty care unit. Consequently, integrated manufacturing facilities will enhance Samsung’s potential in biopharmaceutical segment.
Advantage for Bristol-Myers
Biologic medicines are primarily used to treat a variety of serious diseases, and Bristol-Myers is one of leading drug markers in biologics space and its specialty care unit has a broad range of biological products including Monoclonal antibodies (MoAs).
The treatment market will continue grow with increasing demand to meet the patients’ unmet needs. The market is highly competitive as a large number of drug makers including small and larger players enter into the market to develop and produce biologic medicines.
IMS also expects that biologics will represent 19-20% of total treatment market value by 2017 due to high growth potential. MoAs and human insulin continue to drive the biologic market and the advent of generic version of the biologic (biosimilars) will further boost the market value in coming years.
In biologics space, Bristol-Myers’ products include Erbitux, Yervoy, Nulojix and Orencia that are well known in the market for their efficiency and safety in the treatment of different chronic diseases. These products have showed positive growth year over year and continue to provide sales growth for the Company.
Bristol-Myers Squibb Co (NYSE:BMY)-Myers also plans to improve its pipeline portfolio and additional production facility will further enhance R&D ability to develop biologics medicines.
