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by Lars Winter, Euro on Sunday
A biosimilar candidate for the blockbuster eye drug ranibizumab has already been approved in the UK and is expected to be approved in Europe later this summer. On August 2, the US Food and Drug Administration (FDA) gave the states a green signal. Through its sales partner Coherus Biosciences, Formycon can now quickly market biosimilars in the USA and generate initial sales this year. The prospects for the 201 financial year are very good. The original drug, marketed under the name Lucentis, is a box office hit. The Swiss manufacturer Novartis generated sales of 3.6 billion US dollars in 2021.
Approached Formycon with a copycat product A market share of 10 to 15 percent, which seems likely in the medium term, will lead to sales in the mid three-digit range in the coming years. With margins over 50 percent, there will be a lot on the profit side. Progress is also being made with other products in the Formycon pipeline. The stock is also traded as a takeover candidate. In this context, it is exciting that the major shareholder Thomas Strungman, whose holding company holds a good quarter of the shares, is now a member of the company’s supervisory board and can therefore exert a greater influence on the operative business. According to financial circles, it is also possible to expand the stake to the point of a complete takeover.
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