Teva enters into oncology biosimilar licensing agreement with mAbxience
A new global licensing agreement is set to advance development of an oncology biosimilar candidate. Teva Pharmaceuticals International GmbH, a subsidiary of Teva Pharmaceutical Industries Ltd. and Spain-based biopharmaceutical company mAbxience, have entered into a strategic deal for a drug candidate that is in development for treating multiple indications in the oncology space.
Initiation of the licensing agreement will help Teva to grow its biosimilar pipeline. mAbxience will be able to further its global expansion strategy.
The deal covers several drug markets worldwide, including in Europe and the US.
Based on the agreement, Teva stated that by leading the regulatory processes and commercialisation in planned regions, the company will facilitate broader access of the biosimilar to eligible patients.
Under the terms of the new arrangement, mAbxience will develop and produce the biosimilar product using its expertise in biosimilar development and its current Good Manufacturing Practice (cGMP)-approved facilities located in Spain and Argentina.
Biosimilars market
A report published by Towards Healthcare noted that the biosimilar market has grown “rapidly” in the past few years, chiefly because of the benefits of these products being a cost-effective alternative to the reference product. The author highlighted that the expiration of biologic patents has allowed manufacturers to compete in the market and offer lower-cost alternatives. Therefore, there has been “increased competition and price pressure, driving the growth of the biosimilar market”.