PRA snags Amgen's PhIII biosimilars contract

PRA has snagged an exclusive deal to run Amgen's worldwide Phase III biosimilar studies. The contracting coup comes four months after Amgen ($AMGN) tied up with Watson ($WPI) on an ambitious pact to develop biosimilars of some leading cancer therapies. Watson signed on with a capped investment of $400 million over the next 7 years, while Amgen has an open-ended commitment to the deal. And analysts were intrigued by the notion of a leading biologics company jumping into an arena that has already attracted a lineup of Big Pharma players like Merck ($MRK) as well as a group of multinationals. Story