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SPPI - developing Rituxan biosimilar

http://www.reuters.com/article/idUSSGE70408W20110105?feedType=RSS&feedName=marketsNews&rpc=43

UPDATE 1-Spectrum Pharma to make biosimilar of Roche's rituximab

Jan 5 (Reuters) - Spectrum Pharmaceuticals (SPPI.O) said it is planning to develop a biosimilar version of Roche's (ROG.VX) blockbuster antibody drug rituximab.

Rituximab is used to treat non-Hodgkin's lymphoma -- a type of cancer -- and rheumatoid arthritis.

Roche's Rituxan, also known as rituximab, loses patent protection in 2012. It had sales of 6.1 billion Swiss francs ($6.1 billion) in 2009. [ID:nLDE6AP1BV]

Spectrum on Wednesday signed an agreement with privately held drugmaker Viropro Inc to develop the biosimilar version. Biosimilars are generic copies of pricey biotech drugs used to treat complex diseases like cancer.

Irvine, California-based Spectrum's shares, which have risen 27 percent since December when the company reported positive data from a mid-stage trial of its non-Hodgkin's lymphoma injection, closed at $6.88 on Tuesday on Nasdaq. (Reporting by Shravya Jain in Bangalore; Editing by Vinu Pilakkott)