Mundipharma is strengthening its position in the biosimilars space with the acquisition of biosimilars development company, Cinfa Biotech.
The deal grants the Mundipharma network gain access to Pelmeg, a biosimilar to Neulasta which received CHMP recommendation for approval last month.
Pelmeg has a non-US market worth of $603 million with its originator patents expired. Mundipharma said it represents an “exciting market opportunity”.
Alberto Martinez, President and CEO, Mundipharma International, said: “Our biosimilars platform is a key component of our growth strategy and today’s acquisition is the obvious next step in us ensuring we remain agile and innovative in the biosimilars space.”
He added: “By acquiring Cinfa Biotech we have now taken the first step in our plans to, not only expand our biosimilars footprint, but to develop future biosimilars which will continue to afford healthcare systems further savings and, in some cases, wider access for patients.”
Enrique Ordieres, President of Infarco – the parent company of Cinfa Group – said: “After having successfully developed and manufactured our first biosimilar, we strongly believe Mundipharma is best placed to take Pelmeg forward through the Cinfa Biotech acquisition.”