April 20, 2024

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[THE INVESTOR] LG Chem said on May 30 that it has launched Etanercept BS [MA], its biosimilar referencing Amgen’s rheumatoid arthritis drug Enbrel in Japan.

By introducing the first Enbrel biosimilar in the country, the Korean company seeks to take away Amgen’s original drug share in the 400 billion won (US$370 million) market. 

Like Enbrel, LG Chem’s copy version is available in five types -- 10mg and 25mg vials, 25mg and 50mg prefilled syringe and 50mg prefilled pen -- but at a discount of 30 percent than that of the original therapy.

While other local biosimilar developers like Celltrion and Samsung Bioepis are mainly focusing on bigger and high-value markets like the US and Europe, LG Chem is eyeing emerging countries.

“Starting from Japan and Korea, we plan to launch the product in emerging markets such as Latin America in the future,” a company official told The Investor.

The biosimilar will be released in Korea late June, following approval from the country’s health regulator in March.

The company has been working with its Japanese partner Mochida Pharmaceutical since they signed a licensing agreement in 2012.

LG Chem produces Etanercept BS at its plant in Osong, North Chungcheong Province, to supply it to Mochida. The Japanese firm’s distribution partner Ayumi Pharmaceutical is responsible for sales of the drug.

By Park Han-na (hnpark@heraldcorp.com)