In a move to expand its ophthalmic platform, Sandoz, the former generics and biosimilars arm of Swiss drugmaker Novartis, has completed the acquisition of Coherus BioSciences’ subsidiary Coherus Ophthalmology for $170 million.
Hungary-headquartered specialty pharmaceutical company Gedeon Richter becomes a strategic investor of German biosimilars company Formycon via cash capital increase of 9.08% of Formycon’s share capital, which corresponds to €82.84 million.
With their triumphant advance, biosimilars are also setting in motion the usual market mechanisms. Biopharma interest groups warn against the automatic substitution of originator drugs.
US drugstore chain CVS Health has launched Cordavis, a wholly owned subsidiary that will collaborate with manufacturers to commercialize and co-produce biosimilar products.
South Korean CDMO Samsung Biologics has entered into a long-term manufacturing partnership with major drugmaker Pfizer.
Novartis has finally confirmed definite plans to spin off its generic drugs arm Sandoz.
