Mundipharma Strengthens Position as a Leader in Biosimilars with Acquisition of Development Company Cinfa Biotech
The Mundipharma global network of independent associated companies has added development capabilities to its biosimilars platform with the purchase of biosimilars development company Cinfa Biotech.
The announcement sees the Mundipharma network (including NAPP Pharmaceuticals in the UK) gain immediate access to Pelmeg (B12019), a biosimilar to Neulasta (pegfilgrastim), which received CHMP recommendation for approval on 20th September 2018.
Alberto Martinez, President and CEO, Mundipharma International Ltd, “Our biosimilars platform is a key component of our growth strategy and today’s acquisition is the obvious next step in us ensuring we remain agile and innovative in the biosimilars space.
“We have successfully demonstrated our commercial excellence in biosimilars by building a market leading platform. Through our partnership with Celltrion on Remsima and Truxima we estimate savings for healthcare systems of approximately €330m2 from launch to the end of 2017. By acquiring Cinfa Biotech we have now taken the first step in our plans to, not only expand our biosimilars footprint, but to develop future biosimilars which will continue to afford healthcare systems further savings and, in some cases, wider access for patients.”
Pelmeg (originator Neulasta) is a pegylated version of granulocyte-colony stimulating factor (G-CSF) for the treatment of chemotherapy-induced neutropenia that works by stimulating the bone marrow to produce more neutrophils, thereby reducing the incidence of infection.
With a non-US market worth of $603mllion1 and originator patents already expired, pegfilgrastim biosimilars offer an exciting market opportunity.
Enrique Ordieres, President of Infarco the parent company of Cinfa Group, commented, “After having successfully developed and manufactured our first biosimilar, we strongly believe Mundipharma is best placed to take Pelmeg forward through the Cinfa Biotech acquisition. They have the pedigree and proven track record of launching biosimilars in Europe, have built strong partnerships with payers, hospital specialists and decision makers and have the deep local understanding of complex tender environments.”