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ABII » Topics » Green Cross Corporation

This excerpt taken from the ABII 10-K filed Mar 12, 2010.

Green Cross Corporation

In November 2007, we entered into an agreement with Green Cross Corporation whereby we granted an exclusive license to Green Cross to market and sell Abraxane® in South Korea. Under the agreement, Green Cross will pay a royalty on net sales of Abraxane® as well as upfront and milestone payments. Additionally, we licensed from Green Cross an exclusive license to develop and commercialize the following biosimilars in the United States and Canada: Erythropoetin, pegylated G-CSF (granulocyte-colony stimulating factor), Interferon-Alpha, recombinant Factor VIII and Enbrel® (etanercept). We will pay to Green Cross a milestone on each product once approval has been received and a royalty on net sales.

These excerpts taken from the ABII 10-K filed Mar 31, 2008.

Green Cross Corporation

In November, Abraxis granted an exclusive license to Green Cross Corporation for the commercialization of ABRAXANE in Korea. In addition, Green Cross granted an exclusive license to Abraxis for the future commercialization of the following biosimilars in the U.S. and Canada: erythropoetin, pegylated G-CSF (granulocyte-colony stimulating factor), Interferon-Alpha, recombinant Factor VIII, and Enbrel® (etanercept).

Green Cross Corporation

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%;padding-bottom:3px;line-Height:95%; vertical-align:top">In November, Abraxis granted an exclusive license to Green Cross Corporation for the
commercialization of ABRAXANE in Korea. In addition, Green Cross granted an exclusive license to Abraxis for the future commercialization of the following biosimilars in the U.S. and Canada: erythropoetin, pegylated G-CSF (granulocyte-colony
stimulating factor), Interferon-Alpha, recombinant Factor VIII, and Enbrel® (etanercept).

SIZE="2">Competition

Competition among biotechnology, pharmaceutical and other companies that research, develop, manufacture or
market proprietary pharmaceuticals is intense and is expected to increase. We compete with these entities in all areas of business, including competing to attract and retain qualified scientific and technical personnel.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">Our products’ and product candidates’ competitive position among other pharmaceutical products may be based on, among other things, patent
position, product efficacy, safety, reliability, availability, patient convenience/delivery devices and price, as well as, the development and marketing of new competitive products. Certain of our products and product candidates may face substantial
competition from products marketed by large pharmaceutical companies, many of which have greater clinical, research, regulatory, manufacturing, marketing, financial and human resources, and experience than we do. In addition, the introduction of new
products or the development of new processes by competitors or new information about existing products may result in product replacements or price reductions, even for products protected by patents.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">Some of our competitors are actively engaged in research and development in areas where we are developing product candidates. The competitive marketplace
for our product candidates is significantly dependent upon the timing of entry into the market. Early entry may have important advantages in gaining product acceptance and market share and, as a result, may contribute significantly to the
product’s eventual success and profitability. Accordingly, in some cases, the relative speed with which we can develop products, complete the testing, receive approval, and supply commercial quantities of the product to the market is expected
to be important to our competitive position.

In addition, we compete with large pharmaceutical and biotechnology companies when entering
into cooperative arrangements with smaller companies and research organizations in the biotechnology industry for

 


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the development and commercialization of products and product candidates. Small companies, academic institutions, governmental agencies and other public and
private research organizations conduct a significant amount of research and development in the biotechnology industry. These entities may seek to enter into licensing arrangements to collect royalties for use of technology or for the sale of
products they have discovered or developed. We may face competition in licensing or acquisition activities from pharmaceutical companies and large biotechnology companies that also seek to acquire technologies or product candidates from these
entities.

We believe that AbraxaneSIZE="1">® competes, directly or indirectly, with the primary taxanes in the market place, including Bristol-Myers Squibb’s Taxol® and its generic equivalents,
Sanofi-Aventis’ Taxotere® and other cancer therapies. Many pharmaceutical companies have developed and are marketing, or are developing, alternative formulations of paclitaxel and
other cancer therapies that may compete directly or indirectly with Abraxane®.

EXCERPTS ON THIS PAGE:

10-K
Mar 12, 2010
10-K (2 sections)
Mar 31, 2008

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