Increased pressure on Bayer is anticipated as negotiations for the Eylea-biosimilar deal approach, with the potential for escalation.
Formycon's Eylea Biosimilar to be Marketed in Europe
In a significant development, Formycon's Eylea biosimilar, FYB203, will be marketed under the brand name Baiama in several European countries. The licensing agreement between Formycon and Klinge Biopharma GmbH, extended to Horus Pharma, covers France, Italy, Spain, Portugal, and Belgium.
The CEO of Formycon, Glombitza, has expressed his delight with the recent news, considering it excellent for the company. This expansion marks a significant milestone for Formycon, as it expands its presence in the European market.
Under the agreement, Formycon will coordinate the supply chain for FYB203, and in return, will receive additional service payments and a volume-dependent profit share for commercial market supply. Klinge, on the other hand, will receive upfront and milestone payments, with Formycon receiving a percentage of these payments as part of the sublicensing partnership with Horus Pharma.
It's important to note that the article does not provide information about the approval of the 8-milligram version of Eylea in Europe. However, Bayer has secured approval for the 8-milligram version of Eylea, offering longer treatment intervals in Europe.
The first patents for Eylea's 2-milligram variant are set to expire this year, which could potentially open up more opportunities for biosimilar manufacturers like Formycon.
The interview with Glombitza was published in AKTIONÄR, offering insights into the company's strategic moves. However, the article does not mention any new patents for Eylea or its variants.
Formycon's stock (WKN: A1EWVY) has started recovering after the announcement of the next approval. While the article does not suggest whether Formycon's stock is a buy now, it does recommend adding it to watchlists.
Teva, the parent company of Ratiopharm, is a semi-exclusive marketing partner for Formycon's Eylea biosimilar in much of Europe and Israel. However, the article does not discuss any new licensing, marketing, or sublicensing agreements involving Formycon's Eylea biosimilar FYB203, nor any new partnerships or agreements with Teva, Ratiopharm, Klinge Biopharma GmbH, or Horus Pharma.
In conclusion, Formycon's strategic partnerships and the upcoming marketing of FYB203 in several European countries are promising developments for the company. As the landscape of the biosimilar market evolves, it will be interesting to see how Formycon navigates these opportunities.
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