Sandoz rises as Shanghai Henlius Biotech collaboration adds up to 10 biosimilars
BUZZ-Sandoz rises as Shanghai Henlius Biotech collaboration adds up to 10 biosimilars ** Shares in Sandoz SDZ.S rise 3% after Swiss generic drugmaker announces strategic collaboration with Shanghai Henlius Biotech 2696.HK for up to 10 biosimilars
** Sandoz said the agreement expands industry-leading pipeline to 39 assets1 with a potential to increase to up to 46
** The collaboration agreement is milestones-based for a total consideration of up to USD 322 million, the company added
** Expanded collaboration provides further boost to Sandoz biosimilar portfolio, Vontobel says
** "The deal reinforces Sandoz' commitment to capture significant share of unprecedented biosimilar loss-of exclusivity market opportunity over the next decade," Vontobel adds
** Including Monday gains, the stock is up almost 30% this year
(Reporting by Amir Orusov)
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