Momenta Pharmaceuticals Inc. is exiting the biosimilar drug development space to redirect resources to novel pipeline drugs for immune-mediated diseases, in a move that could add fuel to growing concerns about a lackluster biosimilar market.
The decision, announced Oct. 1, comes after a lengthy strategic review process that started in January as the company sought and failed to find a buyer for its biosimilar business. Ultimately, the company determined it would terminate development of all but two late-stage programs, a biosimilar version of AbbVie Inc.'s mega-blockbuster Humira (adalimumab) and a biosimilar of Regeneron Pharmaceuticals Inc.'s Eylea (aflibercept) in development in collaboration with Mylan NV
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