The Swiss Times - Swiss News in English

Sandoz Challenge Novartis with Strategic $170 Million Cimerli Acquisition

  • By The Swiss Times
  • 22 January 2024

Sandoz Enhances US Market Presence, Acquiring Novartis’s Cimerli

Sandoz Challenge Novartis with Strategic $170 Million Cimerli Acquisition

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

Most Read

Swiss Stock Market Shutters: Tension in the Middle East Rises

19 April 2024
Swiss Stock Market Shutters: Tension in the Middle East Rises
Swiss stock market declines sharply as Middle East tensions rattle investors. All major stocks, except Nestlé, end deep in the red.

Swiss Franc Gains Value In The Face Of Global Uncertainty

19 April 2024
Swiss Franc Gains Value In The Face Of Global Uncertainty
As global tensions rise following reports of an Israeli attack on Iran, the Swiss Franc sees a significant uptick.

Two Foreigners Found Guilty Of Covid Fraud: Jailed and Fined

18 April 2024
Two Foreigners Found Guilty Of Covid Fraud: Jailed and Fined
In the Rhine Valley District Court, two men were sentenced to conditional prison terms for forging 210 Covid vaccination certificates and profiting CHF 10,000 each.

SBB Will Be 100% Green By 2030

18 April 2024
SBB Will Be 100% Green By 2030
SBB outlines a robust environmental strategy, transitioning entirely to renewable energy by 2030 and cutting greenhouse gas emissions by 50% from 2018 levels.

Stay in Touch!

Noteworthy

Uri Cantonal Government Race Heats Up: CVP Majority
Uri Cantonal Government Race Heats Up: CVP Majority
21 April 2024
Federal Council Receives Approval at IMF Meeting on Credit Suisse Crisis
Federal Council Receives Approval at IMF Meeting on Credit Suisse Crisis
20 April 2024