Pfenex soars on Lucentis biosimilar deal with Hospira
Shares of US clinical-stage biotech firm Pfenex (NYSE: PFNX) leapt 28% to $8.85 in morning trading, after the company revealed it has entered into a collaboration with Hospira (NYSE: HSP) to develop and commercialize a biosimilar candidate to a leading ophthalmic drug.
The companies have entered into an agreement to exclusively develop and commercialize for worldwide sales PF582, Pfenex' biosimilar candidate to Swiss pharma giant Roche (ROG: SIX) subsidiary Genentech's Lucentis (ranibizumab injection). Lucentis, which is marketed outside the USA by fellow Swiss major Novartis, had estimated global sales of around $4 billion in 2014 and is part of the broader $6.7 billion intraocular anti-VEGF (vascular endothelial growth factor) therapeutic segment.
Financial terms include $51 million for Pfenex
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
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
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
More on this story...
Today's issue
Company Spotlight
More Features in Biosimilars
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze