Sandoz, a Novartis division, announced that it has entered into a development and commercialization agreement with Samsung Bioepis. The agreement provides Sandoz with the exclusive rights to commercialize the biosimilar SB17 ustekinumab in the US, Canada, EEA, Switzerland, and UK. Other specific terms of the agreement are confidential. The reference medicine Stelara is a monoclonal antibody medication to interleukin-12/23 for the treatment of autoimmune disorders including Crohn’s disease, plaque psoriasis, psoriatic arthritis, and ulcerative colitis. “This deal represents another major step to reinforce our high-value biosimilar pipeline, in line with our plans to become a standalone global leader,” says Sandoz CEO Richard Saynor. “It will further strengthen our immunology patient offering and means we now have five potential high-value upcoming biosimilar launches over the next few years.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on NVS:
- Novartis upgraded to Buy from Hold at Erste Group
- Novartis names AbbVie’s Patrick Horber as President, International
- Novartis sues U.S. government over price regulation, Reuters reports
- Novartis participates in a conference call with Jefferies
- Novartis shares rising but challenges remain, WSJ reports