Sandoz to buy eye drug Cimerli in $170 million deal (updated)

Coherus Oncology

22/01/2024 06:24

(Adds details, company comment in paragraphs 3-7)
       ZURICH, Jan 22 (Reuters) - Sandoz  SDZ.S  on Monday
announced a deal to buy Cimerli, a biosimilar drug to treat
vision impairment and loss, from Coherus BioSciences Inc. for
$170 million.
    The drug is interchangeable with Lucentis, a product
marketed by Roche's  ROG.S  Genentech in the United States and
by Novartis  NOVN.S  in the rest of the world, for all approved
indications, Sandoz said. 
        A biosimilar drug is a biological medicine highly
similar to another already approved biological medicine in terms
of structure, efficacy and safety. They are often cheaper than
their biologic competitors.
  
    The Cimerli deal includes the biologics license application,
product inventory, ophthalmology sales and field reimbursement
staff, as well as access to proprietary commercial software,
Sandoz said. 
        It is expected to close in the first half of 2024.
  
        "I am pleased that we can add another high-value product
to the growing Sandoz biosimilar portfolio, further
strengthening our existing ophthalmology franchise," said Sandoz
North America President Keren Haruvi.
  
        "The addition of Cimerli reinforces our commitment to
biosimilars and represents a huge step towards our goal of
pioneering patient access to more affordable and much-needed
medicines in the U.S."
  
    

 (Reporting by John Revill, Editing by Linda Pasquini)
 ((John.Revill@thomsonreuters.com; +41 41 528 36 37; Reuters
Messaging: john.revill.thomsonreuters.com@reuters.net))