UK Lucentis Biosimilar Nod Offers Teva Potential First-Mover Advantage
Formycon-Bioeq Partnered Ongavia Receives First European Approval In UK
Teva is gearing up to introduce the Ongavia ranibizumab biosimilar in the UK, following an approval by the local regulator ahead of its European counterpart. The development means the Israeli firm and partners Bioeq and Formycon could secure a global first launch of a rival to Lucentis, ahead of expected imminent launches by Samsung Bioepis of its Byooviz version in the US and Europe.
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Teva’s final quarterly earnings call of the year was indicative of its continued need to push valuable pipeline projects in the US to commercialization, as it once again lowered its full-year 2022 revenue guidance.
Teva’s EBITDA was in the red to the tune of more than half a billion dollars in Q2, after taking a chunk out of the company’s goodwill and adding more than $700m to its loss contingency for opioid-related claims.
Ahead of entering the planned commercialization stage for its first biosimilar product, German biotech Formycon has revealed a series of major announcements, including that it has beefed up its pipeline with an additional two new assets. Meanwhile, it expects to soon find a commercialization partner for its proposed Stelara biosimilar.