Mon, Jan 22nd 2024
Sandoz Enhances US Market Presence, Acquiring Novartis’s Cimerli
Sandoz, a leading generics company, has recently boldly moved against its former parent, Novartis. In a decisive strategy, Sandoz completed a purchase agreement with Coherus, a US biotechnology firm, acquiring the Cimerli business. This move directly challenges Novartis’s stronghold in the eye care market, as Cimerli is a biosimilar to Novartis’s renowned eye drug, Lucentis.
With this acquisition, Sandoz will strengthen its position significantly in the US market, particularly in the eye care segment. The deal, involving a substantial investment of 170 million US dollars in cash, showcases Sandoz’s commitment to expanding its portfolio in key healthcare areas. Cimerli, known as a ranibizumab biosimilar, has been recognized as interchangeable with Novartis’s original Lucentis in all approved indications, a fact highlighted in the official press release.
The transaction will be completed in the first half of 2024, contingent upon the usual conditions and regulatory approvals. Since its approval in the USA in August 2022 and its market launch in October 2022, Cimerli has been setting the stage for a new competitive dynamic in the eye care market.
In an unexpected turn of events, Novartis reported a decline in Lucentis sales in the first nine months of 2023, amounting to nearly 1.2 billion dollars and representing a significant 20 percent decrease from the previous year. Novartis has attributed this downturn to the increasing competition from biosimilars, such as Cimerli, underscoring the impact of Sandoz’s strategic maneuvers in the market.
©Keystone/SDA
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