Home U.S. NEWS Novartis’ Sandoz is targeting a biosimilar version of the J&J drug as part of the Samsung deal

Novartis’ Sandoz is targeting a biosimilar version of the J&J drug as part of the Samsung deal

0
Novartis’ Sandoz is targeting a biosimilar version of the J&J drug as part of the Samsung deal

FRANKFURT (Reuters) – Novartis’ generics unit Sandoz said on Monday it plans to launch a generic version of Johnson & Johnson’s anti-inflammatory drug Stelara under a collaboration deal with Samsung Bioepis.

For Sandoz, which is set to become an independent company early next month, the deal means more investment in the growing market of biosimilars, which are lower-cost copies of complex biotech drugs that have lost patent protection.

Samsung Bioepis’ clinical development program for the Stelara biosimilar is well advanced and Sandoz has secured the rights to commercialize the product in the United States, Canada and most of Europe, it said, adding that financial terms are confidential.

The deal “will further strengthen our offering to immunology patients and means we can now bring five potential high-quality biosimilars to market in the next few years,” said Sandoz CEO Richard Saynor.

Stelara is used to treat autoimmune diseases such as Crohn’s disease, plaque psoriasis, psoriatic arthritis, and ulcerative colitis.

Sandoz relies on biosimilars to increase profitability. The Swiss company has said its core adjusted profit margin is likely to be 18-19% this year, compared with 21.3% in 2022, weighed down by higher marketing expenses and cost inflation, but the margin is expected to be 24%-26% by the year reach 2028.

Novartis shareholders are scheduled to vote on the spin-off from Sandoz at an extraordinary general meeting on September 15. The first day of trading is scheduled for October 4th.

(Reporting by Ludwig Burger and Miranda Murray; Editing by Michael Perry)

LEAVE A REPLY

Please enter your comment!
Please enter your name here