Teva and Lonza in strategic partnership to develop biosimilars
Teva Pharmaceutical Industries, of Israel, and Swiss-based Lonza Group have agreed to establish a joint venture to develop, manufacture and market a portfolio of affordable, efficacious and safe generic equivalents of a selected portfolio of biologic pharmaceuticals.
Teva Pharmaceutical Industries, of Israel, and Swiss-based Lonza Group have agreed to establish a joint venture to develop, manufacture and market a portfolio of affordable, efficacious and safe generic equivalents of a selected portfolio of biologic pharmaceuticals.
The joint venture is expected to commence activities during the first quarter of 2009, subject to receipt of any applicable regulatory approvals. Financial details of this agreement are not being disclosed.
"We had identified biosimilars as a major growth driver for Teva in our long-term strategy and have been augmenting our knowledge base, capabilities and infrastructure to position Teva as a leader in this market," said Shlomo Yanai, Teva's president and ceo. "This strategic partnership bolsters our biologics capabilities.
"Lonza is an ideal partner for Teva in this field with its deep knowledge and experience in biopharmaceutical development, large scale manufacturing and state of the art manufacturing facilities."
The companies will continue to assess their co-operation under the joint venture as both Teva and Lonza retain the ability to explore additional opportunities in the area of biosimilars beyond the scope of this partnership.