Sandoz has signed an agreement to acquire the Cimerli (ranibizumab-eqrn) ophthalmology business from Coherus BioSciences for an upfront cash purchase payment of $170m.
Cimerli is a biosimilar to the reference product Lucentis (ranibizumab injection), a drug marketed by Roche’s Genentech and Novartis.
It is an anti-vascular endothelial growth factor (VEGF) therapy that helps retinal patients maintain or gain vision.
Lucentis is authorised to treat multiple retinal diseases like wet age-related macular degeneration, diabetic macular oedema, macular oedema following retinal vein occlusion, myopic choroidal neovascularisation and diabetic retinopathy.
Available in injection forms of 0.3mg and 0.5mg solutions, Cimerli is interchangeable with Lucentis for all approved indications.
The acquisition is expected to strengthen Sandoz’s ophthalmology portfolio in the US market.
The deal includes the biologics license application, product inventory, ophthalmology sales and field reimbursement staff, and access to proprietary commercial software.
Sandoz North America president Keren Haruvi said: “I am pleased that we can add another high-value product to the growing Sandoz biosimilar portfolio, further strengthening our existing ophthalmology franchise.
“The addition of Cimerli reinforces our commitment to biosimilars and represents a huge step towards our goal of pioneering patient access to more affordable and much-needed medicines in the US.”
Cimerli was approved by the US Food and Drug Administration (FDA) in August 2022 after meeting the FDA’s rigorous standards of biosimilarity to the reference product, including safety, efficacy, and quality.
Launched in October 2022, it is the first and only FDA-approved biosimilar interchangeable with Lucentis for all indications.
Sandoz plans to offer more therapy options for US patients experiencing visual loss or impairment.
The generic and biosimilar medicines company said the acquisition of the Cimerli business will help to build a more robust ophthalmic platform for future product development.
Coherus chairman and CEO Denny Lanfear said: “We believe it is prudent to now monetize these non-core assets to pay down debt, reduce interest costs, and take the opportunity to focus on our core therapeutic area, oncology.
“Additionally, this divestiture will allow us to reduce our headcount and overhead costs, enhancing our sustainable and growing oncology business.”
The transaction is expected to close in the first half of 2024, subject to customary conditions and regulatory approvals.
