Teva and Bioeq partner on biosimilar eye drug
Israeli generics giant Teva Pharmaceutical Industries (NYSE: TEVA) and Swiss firm Bioeq today announced a strategic partnership for the exclusive commercialization of Bioeq's FYB201, a biosimilar candidate to the ophthalmic drug Lucentis (ranibizumab) in Europe, Canada, Israel and New Zealand.
Lucentis is marketed by Swiss pharma giants Roche (ROG: SIX) in the USA and Novartis (NOVN: VX) elsewhere, and generated full-year 2020 revenues of $1.93 billion, down 7% year on year, for Novartis. However, first-quarter sales of the drug reached $545 million, (+12%, +4% cc), helped by a strong performance in China.
Bioeq has in-licensed the exclusive global commercialization rights to FYB201 from the German biosimilar developer Formycon AG.
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