Formycon AG
Formycon AG: Formycon Announces Details of Further Pipeline Product: FYB202 is a Biosimilar Candidate for Stelara(R) (ustekinumab)
DGAP-News: Formycon AG / Key word(s): Product Launch/Miscellaneous Press Release // May 10, 2017 – Development pipeline now comprises three of the highest-selling reference products from the third wave of biosimilars – Munich-based biosimilar company targets another multi-billion dollar market alongside ophthalmology – Ustekinumab addresses major patient potential and offers significant opportunities for growth Munich – The biosimilars company Formycon has today announced details of a further product from its development pipeline. FYB202 is a biosimilar candidate for Stelara* (ustekinumab) which is currently in the pre-clinical testing phase. This means that Formycon’s development pipeline comprises FYB201 (biosimilar candidate for Lucentis**), FYB203 (biosimilar candidate for Eylea***) and FYB202 (biosimilar candidate for Stelara), three of the highest-selling drugs from the third wave of biosimilars which addresses reference products set to lose their legal protection after 2020. Stelara (ustekinumab) is a human monoclonal antibody that targets the cytokines interleukin-12 and Interleukin-23. Since 2009, the drug has been used to treat various severe inflammatory conditions such as moderate to severe psoriasis. In 2016, its indications were extended, allowing Stelara to also be used for the treatment of Crohn’s disease, a chronic inflammatory condition of the bowel. In recent years, Stelara has brought growing revenues and in 2016 achieved global sales of around US$ 3.2 billion. Further sales growth is also anticipated for the future. According to information from the US National Center for Biotechnology Information (NCBI) and the World Health Organization (WHO), the psoriasis market is set to increase by an average of 7.3 percent per year, reaching a volume of US$ 13.3 billion by 2024. For Crohn’s disease, an expansion of the market from its current level of US$ 3.5 billion to US$ 4.4 billion is expected over the same period. There may also be further potential for sales through the possible approval of Stelara for additional indications, for example the treatment of other serious gastrointestinal conditions. Marketing of a biosimilar for Stelara should become possible towards the end of 2023 in the USA and from the middle of 2024 in Europe once the legal protections expire. Dr. Carsten Brockmeyer, board member and CEO of Formycon, regards the biosimilar candidate for Stelara as a further important milestone on Formycon AG’s journey towards becoming a leading company in the promising biosimilar industry: “The costs of treating chronic conditions such as psoriasis and Crohn’s disease have become a major challenge for healthcare systems around the world. With the development of the Stelara biosimilar, we are pursuing the goal of offering this treatment to doctors and patients at an affordable price, thereby increasing access to this important drug and at the same time allowing urgently needed savings to be made in healthcare systems.” Dr. Stefan Glombitza, board member and COO of Formycon, adds: “For the sophisticated development of the biosimilar product FYB202, we will build on our first-class scientific expertise, strict development standards and efficient cooperation with renowned third-party manufacturers in order to achieve our milestones with the final goal of getting biosimilar approval from international authorities. Our team is highly motivated by the fact that through our product development we will be able to create broader access to high-quality medication for the many patients with psoriasis and Crohn’s disease.” * Stelara is registered trademark of Johnson & Johnson
About Formycon: About biosimilars:
10.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Formycon AG |
Fraunhoferstraße 15 | |
82152 Planegg-Martinsried | |
Germany | |
Phone: | 089 864667 100 |
Fax: | 089 864667 110 |
Internet: | www.formycon.com |
ISIN: | DE000A1EWVY8 |
WKN: | A1EWVY |
Listed: | Regulated Unofficial Market in Berlin, Tradegate Exchange; Open Market (Scale) in Frankfurt |
End of News | DGAP News Service |