STADA and Richter signed an agreement for biosimilar pegfilgrastim

August 7, 2015 11:34 AM

stada

STADA Arzneimittel AG and Gedeon Richter Plc. announced that the two companies have signed a license and distribution agreement to commercialize Richter’s biosimilar pegfilgrastim in Europe.

According to the agreement STADA receives non exclusive distribution rights for the area of geographical Europe (excluding Russia), while Richter retains its rights to distribute and market biosimilar pegfilgrastim worldwide.

Under the terms of the agreement in addition to a payment on the event of signing the contract, STADA is obliged to make further payments each depending on the progress of the project. With the start of marketing, STADA will report the resulting sales and make license related further payments to Richter.

“We succeeded once again in continuing our strategy of selective in-licensing with a competent partner. With the agreement, we ensure that we will be able to offer a low-cost and high-quality alternative to the original product immediately following the expiration of the patent in 2017. This way, we also further expand our position in the promising and attractive-margin biosimilar market and strengthen our portfolio with an additional biosimilar in a low cost and low risk manner”, said Hartmut Retzlaff, Chairman of the Executive Board of STADA Arzneimittel AG, on the advantages of the cooperation.

“Development of biosimilar products has been considered as a paramount strategic objective for Richter in becoming a specialty pharma company. A hopefully successful completion of the pegfilgrastim development project is deemed to be a first step on the way of becoming an acknowledged participant on the high-end market of biological products. The current agreement brings a worthwhile addition to our strategy”, added Erik Bogsch, Managing Director of Gedeon Richter Plc.

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