Stada Arzneimittel partners with Gedeon Richter to distribute biosimilar Pegfilgrastim in Europe

Germany-based Stada Arzneimittel (SAZ: Xetra) said it has partnered with Hungary's largest drugmaker Gedeon Richter (RICHT: HB) to distribute the latter’s biosimilar Pegfilgrastim in Europe.

Under the terms of the deal Stada will receive non-exclusive distribution rights in Europe (excluding Russia), while Richter will retains its rights to distribute and market the biosimilar of Amgen's (Nasdaq: AMGN) Neulasta for rest of the world.

Hartmut Retzlaff, chairman of Stada Arzneimittel, said: “With the agreement, we ensure that we will be able to offer a low-cost and high-quality alternative to the original product immediately following the expiration of the patent in 2017. This way, we also further expand our position in the promising and attractive-margin biosimilar market and strengthen our portfolio with an additional biosimilar in a low cost and low risk manner.”