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Stada to Invest $115 Million in Biosimilar Development
Stada, a biopharmaceutical company based in Germany, recently announced that it is increasing its presence in the biosimilar sphere by becoming the majority shareholder in Bioceuticals, a venture capital-funded organization created by Stada to carry out its biosimilar programs.
Stada, a biopharmaceutical company based in Germany, recently announced that it is increasing its presence in the biosimilar sphere by becoming the majority shareholder in Bioceuticals, a venture capital-funded organization created by Stada to carry out its biosimilar programs.
In addition to the shares Stada previously held in the company, it will be acquiring another 35.48%, creating a combined total of 51.34% stake in Bioceuticals. The financial terms of the agreement have not been disclosed, and the arrangement is subject to the approval by antitrust authorities.
Bioceuticals is responsible for the production of active ingredient erythropoietin. Previously, the company issued sales licenses to third parties such as Stadapharma, a subsidiary of Stada, for the marketing of the biosimilar epoetin zeta (sold in the European Union under brand name Silapo) which treats anemia caused by chronic kidney failure and chemotherapy.
The epoetin zeta biosimilar is also sold under an agreement between Stada and Hospira, a Pfizer subsidiary, under the brand name Retacrit in various countries (the FDA approved the product this past May, though it has yet to reach the market in the United States).
In March, Claudio Albrecht, CEO of Stada, spoke out about the new direction the company was taking. “Moving ahead, we will be pursuing a 3-pillar strategy consisting of non-prescription over-the-counter products, generics, and specialty pharmaceuticals including biosimilars. The latter will focus on oncology, the central nervous system, and ophthalmology.”
In addition, Albrecht’s plan included investments of more than $115 million (€100 million) over the next 3 years in the biosimilar sector alone.
Last month, Stada entered into a collaboration agreement with Xbrane Biopharma for the development of a ranibizumab biosimilar, referencing Lucentis, which will prospectively be sold as Xlucane in the US, European, and other markets.
Currently, the European Medicine’s Agency is reviewing Stada’s pegfilgrastim biosimilar application, for which the company has entered into a licensing and marketing agreement with Gedeon Richter.
“We are pursuing the goal of a strong presence for all 3 pillars of our business model in as many countries as possible through the greater internationalization of our existing product portfolio and acquisitions,” said Albrecht.
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