BMS rips up deal amid cartel worry

In a potentially bad sign for early entry deals for generics and biosimilars, BMS subsidiary Celgene and generics companies Juno and Natco have withdrawn their application to the ACCC to authorise their agreement.

In March this year the ACCC indicated it would reject an application by the companies to approve a deal that gave Juno the rights to sell generics of multiple myeloma treatment,Revlimid, before patents expired, in exchange for dropping litigation.

"The pharmaceutical manufacturing company Celgene and generic drug companies, Juno and Natco have withdrawn their application to the ACCC for an authorisation for the provisions of a settlement and licence agreement," the ACCC said in a statement.