Amgen and Novartis applauded for support of investor principles in biosimilar industry

A coalition of institutional investors who have over $430 billion in assets has commended USA-based biotech firm Amgen (Nasdaq: AMGN) and Swiss drug major Novartis (NOVN: VX) for supporting a set of investor principles to guide corporate boards on policy and oversight responsibilities related to biosimilar activities.

The coalition’s Investor Statement on Board Oversight of Biosimilar Issues calls on biosimilar manufacturers’ boards to ensure that information provided to policymakers on patient safety is balanced, that investor money used for political lobbying is working in tandem with shareholder interests, and that disclosure on significant business partnerships is transparent.

Amgen and Sandoz, the generics division of Novartis, have expressly stated their support for the principles outlined in the document, and highlighted the fact that their existing policies and practices were also affirming them.