The agreement will involve the sale of 51% of Bioton’s shares in Biopartners Holdings to Actavis, giving it a majority share in the company.

Biopartners is a Swiss-based biopharmaceutical company. Its recombinant human growth hormone (rhGH), Valtropin, was one of the first biosimilars to receive marketing authorisation from the EMA. Biopartners is also on track to be the first company to submit a sustained-release formulation of rhGH, which will cut the number of self-administered injections from once-a-day to once-a-week - a major breakthrough in hGH treatment.

Actavis CEO, Dr Claudio Albrecht, commented that “by entering into biosimilars the generic companies gain access to a portfolio that requires a new approach to development and marketing. We will have generic companies investing significantly more in research and we will see originator companies developing generics. Only the large generic players such as Teva, Sandoz, Mylan and Actavis have the capability to do this, either by themselves or in partnership with originators”.

Actavis have stated that they want to be selective with their biologic target portfolio, highlighting endocrinology (a branch of biology and medicine dealing with the endocrine system), oncology and insulin as areas of interest for them.

Actavis has until 1 November 2010 to perform its due diligence of Biopartners and finalise the agreement.

Actavis is the latest in a string of generics companies looking to gain a foothold in the, what promises to be, lucrative biosimilars market.

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References

Actavis Press Releases. Actavis plans to enter into Biosimilars. 7 September 2010.

Bioton Investor Reports. Current report 2010/53 dated 06.09.2010. Confidential information (conclusion of agreement between BIOTON S.A. and Actavis Group Hf). 6 September 2010.