Bausch + Lomb Licenses Exclusive Rights To a Biosimilar Candidate for Lucentis (Ranibizumab) in the US and Canada
Bausch + Lomb has entered into an exclusive licensing agreement with STADA Arzneimittel AG and its development partner, Xbrane Biopharma AB, a Nordic biosimilar developer, to develop and commercialize a biosimilar candidate to Lucentis (ranibizumab) in the United States and Canada. The companies aim to obtain all currently approved indications for Lucentis in both the United States and Canada.
STADA and Xbrane will be jointly responsible for finalizing development of the biosimilar, currently known as Xlucane. Xbrane will also provide commercial supply. Bausch + Lomb will be responsible for the sales, marketing and all other commercialization efforts for the biosimilar candidate in the United States and Canada following regulatory approval.
Under the terms of the licensing agreement, Bausch + Lomb will make a mid-single digit million USD up-front payment and will pay further milestone payments subject to approval and launch of the product in the United States. STADA and Xbrane will also be entitled to a share of gross profits from sales of the product by Bausch + Lomb, and will share equally in the proceeds they receive from Bausch + Lomb.
“Through this agreement with STADA and Xbrane, we will be able to leverage our extensive expertise and heritage in the North American ophthalmic market,” Yolande Barnard, vice president and general manager, U.S. Pharmaceuticals, Bausch + Lomb, said in a company news release. “We believe that, once approved, this biosimilar ranibizumab candidate will be an excellent addition to our comprehensive eye health portfolio and further deliver on our commitment of continuing to expand and improve upon our ophthalmic portfolio for our customers and their patients.”
“Part of STADA’s strategy of being the go-to-partner for consumer healthcare and generics, including biosimilars, is to identify strong local partners where we are not the best party to commercialize an asset,” said STADA CEO Peter Goldschmidt. “With its deep relationships with eye care professionals in North America, and an effective salesforce already in place to promote their comprehensive pharmaceuticals portfolio, we believe that Bausch + Lomb is the ideal partner to broaden access to this ophthalmic treatment in North America.”
“I am convinced that Bausch + Lomb is the right partner for us to commercialize Xlucane in the United States and Canada. Bausch + Lomb has a very strong brand recognition and reputation amongst ophthalmologists and an existing sales infrastructure to leverage. We are excited to finalize the final steps towards marketing approval and together with our partners, bring the product to patients with severe eye diseases in dire need for cost efficient VEGFa inhibitors in the United States and Canada,” said Martin Åmark, CEO of Xbrane Biopharma.