Biocon And Viatris Ready To Launch EU Bevacizumab
Biocon Biologics Announces Formal EU Approval For Abevmy Biosimilar
Viatris and Biocon Biologics are now in a position to enter the European market for biosimilar bevacizumab, after the European Commission formally approved the pair’s Abevmy rival to Avastin.
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Celltrion has received a positive opinion from the EMA’s CHMP for its Vegzelma bevacizumab biosimilar rival to Avastin, setting up the Korean firm to enter a competitive European market that already includes several bevacizumab biosimilars.
Viatris and Biocon have introduced their Abevmy biosimilar bevacizumab version of Avastin in Canada. Marking the third oncology biosimilar – and the fourth biosimilar overall – to be launched by Viatris in Canada, the product will face multiple other approved bevacizumab rivals in the market.
Biocon Biologics will pay up to $3.3bn to acquire the global biosimilars business of Viatris, in a long-rumored deal that will create a vertically-integrated biosimilars giant with annual sales approaching $1bn.