Teva Pharmaceuticals Expands Through Strategic Collaborations in Biosimilars
Tel Aviv, Tuesday, 14 January 2025.
Teva collaborates with Formycon and Klinge to commercialize a biosimilar to Eylea® in Europe and Israel, enhancing its biosimilar portfolio and growth strategy.
Strategic Partnership Details
On January 13, 2025, Teva Pharmaceuticals announced a significant collaboration with Klinge Biopharma GmbH and Formycon AG for the semi-exclusive commercialization of FYB203, a biosimilar candidate to Eylea® (aflibercept) [1]. The agreement covers major European markets, excluding Italy, and Israel, with Teva planning to market the product under the brand name AHZANTIVE® pending regulatory approval [1]. This strategic move follows promising developments, including FDA approval in June 2024 and a positive recommendation from the EMA’s CHMP in November 2024 [1].
Market Impact and Growth Strategy
The collaboration targets a substantial market opportunity, considering Eylea®’s global sales of approximately USD 9 billion in 2023, with USD 2.9 billion from the European market alone [1]. This partnership aligns with Teva’s ‘Pivot to Growth’ strategy, which has already shown success with seven consecutive quarters of growth [2]. CEO Richard Francis emphasizes the company’s dual strength, stating that ‘Teva is an amazing pharmaceutical company that happens to have a world-class generics company and a world-class innovative business’ [6].
Innovation and Development Focus
Teva’s commitment to innovation extends beyond biosimilars, with the company implementing AI-driven development processes that have significantly reduced traditional timelines. Through partnerships like the one with Biologic Design, Teva has managed to reduce typical antibody development timelines from four years to two years [6]. The company serves approximately 200 million people daily through its portfolio of 3,500 products across nearly every therapeutic area [2], demonstrating its extensive global reach and impact on patient care.
Future Outlook
Looking ahead, Teva continues to strengthen its position in both generic and innovative medicines. The company is scheduled to discuss its fourth quarter and full year 2024 financial results, along with 2025 financial guidance, on January 29, 2025 [1]. With its expanding biosimilar portfolio and strategic partnerships, Teva is positioning itself for sustained growth while maintaining its commitment to making quality medicines more accessible to patients globally [2][6].