Swiss company, Sandoz, announced a $170 million purchase agreement to acquire Cimerli, a biosimilar medication used to treat vision loss and impairment, Reuters reported on Monday.
According to Sandoz, the medication is equivalent to Lucentis, which is marketed for all approved indications by and Roche’s Genentech in the U.S., and Novartis in the rest of the world.
A biosimilar medication is a biological product that shares many structural, physiological, and safety characteristics with a biological product that has already received approval. They frequently cost less than their rivals who use biologics.
“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.” Keren Haruvi, Sandoz North America President stated.
The product inventory, ophthalmology sales and field reimbursement staff, the biologics license application, and access to proprietary commercial software are all included in the Cimerli deal, according to Sandoz. Moreover, the deal is set to be finalised 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,” she added.
