Swiss pharmaceutical company Sandoz has revealed a $170 million purchase agreement to acquire Cimerli, a biosimilar medication utilized in the treatment of vision loss and impairment, as reported by Reuters on Monday.
Cimerli, identified as an equivalent to Lucentis, which is marketed for all approved indications by Roche’s Genentech in the U.S. and Novartis in the rest of the world, is the focal point of this acquisition.
A biosimilar medication is a biological product sharing structural, physiological, and safety characteristics with an already approved biological product. Typically, biosimilars come at a lower cost compared to their biologic counterparts.
Keren Haruvi, Sandoz North America President, emphasized, “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 U.S.”
Sandoz detailed that the Cimerli deal encompasses product inventory, ophthalmology sales and field reimbursement staff, the biologics license application, and access to proprietary commercial software. The finalization of the deal is anticipated in the first half of 2024. Haruvi commented, “I am pleased that we can add another high-value product to the growing Sandoz biosimilar portfolio, further strengthening our existing ophthalmology franchise.”