OGN - Organon signs licensing deal with Chinese biotech Henlius for biosimilars

Women’s health company Organon (NYSE:OGN) announced on Monday an agreement with Chinese biopharmaceutical company Shanghai Henlius Biotech, Inc. (OTCPK:SGBCF) for commercialization of two biosimilar candidates targeted at conditions such as breast cancer and osteoporosis. Pertuzumab is used for treatment of certain patients with HER2+ breast cancer in combinations with trastuzumab and chemotherapy. Denosumab is used to treat conditions such as osteoporosis and multiple myeloma. Per the terms, Organon (OGN) will acquire the global commercialization rights for Perjeta (pertuzumab, HLX11) and Prolia/Xgeva (denosumab) except for China; including Hong Kong, Macau and Taiwan. Henlius will be responsible for the development and supply the products to Organon (OGN) subject to regulatory approval. The deal includes an upfront payment of $73M as well as milestone payments based on the achievement of certain development, regulatory and commercial events. The upfront payment and about $30M milestone payments expected in 2022 is not included the full year

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Organon signs licensing deal with Chinese biotech Henlius for biosimilars