Teva, Bioeq Reach Deal To Commercialize Biosimilar Candidate Of Ophthalmology Drug Ranibizumab

(RTTNews) - Teva Pharmaceutical Industries Ltd. (TEVA) said that it reached a strategic partnership for the exclusive commercialization of Bioeq's FYB201, a biosimilar candidate to Lucentis (ranibizumab) in Europe, Canada, Israel and New Zealand.

Bioeq has in-licensed the exclusive global commercialization rights to FYB201 from the German biosimilar developer Formycon AG.

As per the terms of the deal, Bioeq will be responsible for the development, registration and supply of the biosimilar, while Teva will be responsible for commercializing the product. Teva and Bioeq will share revenue from the commercialization of the biosimilar. All other financial terms and product details remain confidential.

Biosimilars are intended for use in place of existing, branded biologics to treat a range of chronic and often life-threatening diseases, with the potential to reduce costs and expand patient access.