Amgen (AMGN) announced positive top-line results from the phase 3 trial of its biosimilar candidate ABP 710. The drug is a biosimilar of Johnson & Johnson’s blockbuster rheumatoid arthritis drug, Remicade (infliximab). If the drug succeeds, Amgen is well positioned to be a key player in the autoimmune biosimilars market.
The biosimilar drug was tested in patients with moderate-severe rheumatoid arthritis. The latest results suggest that there are no much differences in the two treatments, i.e., ABP 710 and Remicade, thereby confirming non-inferiority. Amgen has nearly ten biosimilars in its portfolio. This includes drugs that already won the approval of the European Medicines Agency
By 2022, the market value of global autoimmune diseases treatment market is estimated to reach $45.54 billion from $36.41 billion in 2016, according to Research and Markets.
Related: Amgen stock increases as its new migraine treatment won FDA approval
Separately, Amgen has partnered with an employee benefits consultant Piper Jordan. With this partnership, Amgen aims at offering disease management resources to both the employee and employer living with migraine. This marks Amgen’s first migraine-specific project with employers.
Amgen continues to make strong progress in its pipeline including biosimilars. Due to strong demand, the company’s new drugs too are performing well. The company got a huge boost when its key migraine candidate, Aimovig, won the US FDA approval. In 2017, Amgen sold drugs worth more than $22.8 billion.
Related: Watch out Amgen! Mylan wins FDA approval for biosimilar of Neulasta
Despite a strong pipeline, Amgen is losing the market share for some of its top-selling drugs. It would be quite challenging for Amgen to replace them. Recently, Mylan (MYL) got the FDA approval for biosimilar of Neulasta. Biosim Fulphila is said to be an inexpensive treatment for cancer patients. This came as a major blow for Amgen, who makes billions on just a handful of drugs, as Neulasta alone generated sales of $3.93 billion last year in the US.