FDA Approves Amgen Biosimilar for Breast Cancer

A cancer drug developed through a collaboration between Amgen Inc. and Allergan Plc. has been approved by the U.S. Food and Drug Administration, according to a statement from the companies. Kanjinti is a biosimilar to Herceptin, a drug made by the Roche Group, a Swiss company, which is already on the market for certain types of breast and stomach cancer. “The FDA approval of Kanjinti is an important milestone for our biosimilars portfolio, providing an additional treatment option for patients across three types of cancer,” Dr. David Reese, vice president of research and development at Thousand Oaks-based Amgen, said in a statement. “Kanjinti is the third biosimilar from our portfolio to receive FDA approval, highlighting our long-term commitment to providing patients with serious illnesses access to high-quality biological therapies.” Shares of Amgen (AMGN) closed Friday down 63 cents, or a fraction of a percent, to $176.08 on the Nasdaq.