Munich, Germany-based Formycon (LON: OW4N) shares rose almost 12% to 62.40 euros yesterday, after it revealed that it has agreed to merge its development activities in the area of biosimilars through a long term strategic partnership with ATHOS AG.
The structure of the transaction will involve Formycon acquiring all the rights in FYB202, a biosimilar candidate for Stelara (ustekinumab), as well as a 50% share in FYB201, a biosimilar candidate for Lucentis (ranibizumab).
Johnson & Johnson’s (NYSE: JNJ) Stelara is used to treat various serious inflammatory diseases like moderate to severe psoriasis and inflammatory bowel diseases such as Crohn’s disease and ulcerative colitis. Lucentis, marketed by Novartis (NOVN: VX) and Roche (ROG: SIX), is used to treat age-related neovascular (wet) macular degeneration (nAMD) and other serious eye diseases.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
7 day trial access
Become a subscriber
Or £77 per month
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze