Gedeon Richter sign biosimilars’ agreement with Mochida

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Gedeon Richter sign biosimilars’ agreement with Mochida

Biosimilares/Novedades | Posted 11/02/2011 0 Post your comment

On 14 December 2010 Budapest-based Gedeon Richter and Tokyo-based Mochida Pharmaceutical (Mochida) announced that the two companies have entered into a comprehensive and long term license and collaboration agreement with respect to development and marketing of Richter’s biosimilar product portfolio.

According to this agreement, Mochida receives exclusive rights to develop market and distribute this portfolio in Japan.

Richter has defined the development of biosimilar products as an important strategic initiative and made significant efforts to establish its future presence in the field of biotechnology, thereby enhancing the proportion of high added-value products within its portfolio. This agreement is considered to be a significant move in line with Richter’s aim to establish the presence of biosimilar products developed and manufactured by Richter and to be launched worldwide.

The comprehensive and long term collaboration with Richter under this agreement enables Mochida to make a full-scale entry into the Japanese biosimilars’ market, which is expected to noticeably expand in the future. Mochida views the commercialisation of the biosimilar product portfolio as an important strategic move, which is expected to offer further treatment options to meet market needs.

This agreement will have only minor impact on the business performance of Mochida for the near term.

About Richter

Richter is a leading multinational pharmaceutical company headquartered in Budapest, Hungary. With consolidated sales of approximately Euros 1 billion (US$1.3 billion) in 2009 and a market capitalisation of Euros 3.2 billion (US$4.3 billion), Richter is one of the largest pharmaceutical companies in Central Eastern Europe. Richter’s core markets are in Central Eastern Europe and the CIS and it has a growing presence in the US through its strategic partners and in key EU countries through its commercial subsidiaries. The product portfolio of the company covers most therapeutic areas, including cardiovascular, central nervous system and gynaecology. Richter has the largest R & D unit in Central Eastern Europe and its original research activity focuses exclusively on CNS disorders with main clinical targets being schizophrenia, anxiety, chronic pain and depression. With its widely acknowledged steroid chemistry expertise, Richter is a significant player in the female healthcare field worldwide.

Source: Mochida Pharmaceutical Co., Ltd.