DRUG DEAL: Biotech giant Amgen is partnering with generic drugmaker Watson Pharmaceuticals to produce "biosimilar" medicines for cancer.
FUTURE NICHE: U.S. regulators are crafting rules for approval of drugs similar to existings biologic ones. These are complex, injected drugs "manufactured" in living cells, so the biosimilars will cost more than generic pills.
DEAL DETAILS: Amgen will primarily handle developing and manufacturing the biosimilar cancer drugs. Watson will contribute up to $400 million, then focus on marketing products in exchange for royalties and other payments.