STADA in-licenses teriparatide and further expands biosimilar portfolio
- Press Release
Bad Vilbel, October 13, 2014 –
STADA Arzneimittel AG in-licenses teriparatide and thereby once again expands its biosimilar portfolio. The teriparatide biosimilar is being developed by Richter-Helm BioTec GmbH & Co. KG and is to be launched under the STADA label throughout Europe following the expiration of the patent of the original product Forsteo.
“With this additional in-licensing, we are consequently following our biosimilar strategy according to which we rely on cooperations with highly specialized partners to expand our portfolio at favorable conditions with high-quality products”, explains Chairman of the Executive Board of STADA Hartmut Retzlaff.
Under the terms of the agreement, in addition to a payment at the signing of the contract, STADA is obliged to make further payments each depending on the progress of the project. With the start of marketing, STADA will report the resulting sales and make license payments to Richter-Helm.
In consideration of the coming patent expirations of numerous blockbuster biological products, the number of available biosimilars will increase significantly in the coming years. As a result of this, products like teriparatide will play a decisive role in supplying patients in future.
“With the teriparatide biosimilar of STADA, the therapy spectrum for osteoporosis patients will be increased by an alternative that absolutely has the same level of quality yet costs less and has proven therapeutic equivalence to the initial supplier product”, says Dr. Michael Mack, Vice President of Biotechnology at STADA, with conviction.
STADA expects to launch teriparatide on the market in 2019 and thereby expand its existing range of biosimilars by an additional active ingredient. As early as 2008 the STADA sales company cell pharm began selling SILAPO with the active ingredient epoetin zeta. This year, the wholly owned subsidiary cell pharm launched the filgrastim product Grastrofil.
About STADA Arzneimittel AG
STADA Arzneimittel AG is a publicly-listed company with headquarters in Bad Vilbel, Germany. STADA consistently focuses on a multi-pillar strategy of generics and branded products (OTC) with an increasingly international market orientation. The Group is the only independent generics producer in Germany. As of December 31, 2013, STADA was represented in 29 countries with 47 sales companies. Branded products such as Grippostad, Ladival and Mobilat are among the highest selling in their product category in Germany. In financial year 2013, STADA achieved Group sales of Euro 2,014.4 million, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of Euro 415.2 million and adjusted net income of Euro 160.6 million. As of December 31, 2013, STADA employed 9,825 people worldwide.
About Richter-Helm BioTec GmbH & Co. KG
Richter-Helm-BioTec GmbH&Co.KG based in Hamburg develops biosimilar pharmaceuticals for worldwide markets. Richter-Helm-BioTec GmbH&Co.KG is the biotechnology joint venture of Gedeon Richter Plc., located in Budapest, a leading pharmaceutical firm in Eastern Europe with branches in more than 100 countries, and Hamburg-based HELM AG, one of the largest independent chemical and pharmaceutical marketing enterprises in the world present more than 30 countries.