Viropro, Inc. (VPRO)

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Spectrum Pharmaceuticals Inc. (SPPI) signed a deal with Viropro Inc. (VPRO) to develop a biosimilar version of Swiss pharmaceutical giant Roche Holding AG's (RHHBY, ROG.VX) cancer drug rituximab ahead of its U.S. patent expiration in 2015.

The agreement comes as many patent expirations loom over large pharmaceutical companies. Rituximab, used in the treatment of many lymphomas, leukemias, transplant rejection and some autoimmune disorders, saw worldwide sales of about $5.6 billion in 2009.

Financial terms weren't disclosed.

Viropro, a biotech drug maker, said Spectrum will license the rights to certain technology and it should get milestone payments over 36 months and royalty payments from ensuing sales.

Biosimilar drugs are officially approved versions of biopharmaceutical products made by a different company as patent and exclusivity expire on the product.

Biotech company Spectrum, which has a focus on cancer treatment, has been focused on making another push to improve the weak sales of its leading drug Zevalin. In its most recent quarterly results, Spectrum swung to a loss as it spent more to market Zevalin and another drug, Fusilev, which treats a vitamin deficiency in patients who have been treated with chemotherapy for colorectal cancer.

Meanwhile, Roche, the world's biggest maker of cancer drugs, is facing pressure following the U.S. Food and Drug Administration December decision to revoke approval of blockbuster drug Avastin for the treatment of breast cancer. The company has said it will appeal.

Spectrum shares were up 4 cents at $6.92. The stock is up 49% over 12 months.