Sandoz announces partnership agreement with Samsung Bioepis

Sandoz (SDZNY) announced a major license, development and commercialization partnership agreement with Samsung Bioepis. The agreement paves the way for the two companies to partner on up to five biosimilar assets. The first asset will be a vedolizumab biosimilar, which is in early-stage development. The reference medicine, Entyvio, is used to treat adult patients with Crohn’s disease, ulcerative colitis or pouchitis. Under the terms of the agreement, Sandoz will have exclusive rights to commercialize globally, except in China, Hong Kong, Taiwan, Macau and Republic of Korea. Samsung Bioepis will be responsible for development, regulatory submissions in key markets and manufacturing. Both companies have agreed to keep the financial details of the agreement confidential.