Sandoz Group announced it has completed its acquisition of Coherus BioSciences’ CIMERLI (ranibizumab-eqrn) ophthalmology franchise.
Refresh me on these players.
Coherus is a Swiss, commercial-stage biopharmaceutical company based in Redwood City, California, with a focus on research, development, and commercialization of next-generation immunotherapies to treat cancer.
It entered the ophthalmology market in 2022 with a significant market share in its non-core area of business.
Sandoz, on the other hand, was relaunched by Novartis in 2003 to specialize in generic pharmaceuticals and biosimilars with the intent to develop and commercialize novel, affordable therapeutics to address unmet medical needs.
Note: Novartis separated the Sandoz business in 2022 as a stand-alone, publicly traded company via a 100% spin-off. In October 2023, the company officially became independent.
So what did this deal include?
Originally announced in January 2024, Sandoz acquired the entirety of Coherus’s CIMERLI franchise for an upfront cash purchase price of $170 million plus an additional amount for CIMERLI’s product inventory.
This includes:
- Biologics license application (BLA)
- Product inventory
- Ophthalmology sales and field reimbursement talent
- Proprietary commercial software access
Real quick: why did Coherus want to offload this product?
Two main reasons: the company is looking to focus its investment in oncology (not ophthalmology) and pay down its debt.
Gotcha. Now talk about CIMERLI.
CIMERLI was FDA approved in 2022 as a vascular endothelial growth factor (VEGF) inhibitor, intended for intravitreal injection use (6 mg/mL and 10 mg/mL) only.
An interchangeable biosimilar to LUCENTIS (Genentech, Inc.; FDA approved in 2006), the drug is indicated for the treatment of patients with the following conditions:
- Wet age-related macular degeneration (AMD)
- Macular edema following retinal vein occlusion (RVO)
- Diabetic macular edema (DME)
- Diabetic retinopathy (DR)
- Myopic choroidal neovascularization (mCNV)
See its prescribing information (PI) for the recommended dosages of each indication.
And what’s so significant about it?
At its launch, CIMERLI became the first and only FDA-approved biosimilar interchangeable with LUCENTIS for all indications.
What does this acquisition mean for Sandoz?
The purchase of CIMERLI supports the company’s growing biosimilar portfolio.
For context, Sandoz launched its first biosimilar back in 2006. Since then, it’s marketed eight biosimilars in immunology, endocrinology, and oncology) and has 25 assets in the clinical development stage.
How about for ophthalmology?
Adding CIMERLI to its U.S. ophthalmology franchise is a major bolster to its portfolio of specialized generic pharmaceuticals and biosimilars, enabling the company to “now offer even more treatment options for US patients with vision impairment and loss,” stated Keren Haruvi, president of Sandoz North America.