Abbott Broadens Access to Cutting-Edge Biosimilars in Key Emerging Markets

Rhea-AI Summary

Abbott to commercialize several biosimilar molecules in key emerging markets in Latin America, Southeast Asia, the Middle East, and Africa. First molecules expected to launch in 2025. Collaboration expands Abbott's medicines offering and provides access to affordable biosimilar medicines.

Positive

• Abbott to commercialize biosimilars in key emerging markets, expanding medicines offering and providing access to affordable treatments.
• First molecules expected to launch in 2025.

Negative

• None.

• Abbott to commercialize several biosimilar molecules in key emerging markets in Latin America, Southeast Asia, the Middle East and Africa
• Spain-based global biotech leader mAbxience Holdings S.L. to develop, manufacture and supply the biosimilar molecules
• First molecules expected to launch as early as 2025, offering new treatment options that leverage the latest in scientific breakthroughs for people in emerging markets

ABBOTT PARK, Ill., Sept. 20, 2023 /PRNewswire/ -- Abbott (NYSE: ABT) announced today an agreement with Spain-based global biotech leader mAbxience Holdings S.L. to commercialize several biosimilars focusing on oncology, women's health and respiratory diseases in emerging markets. The first molecules are expected to launch in 2025, while others are subject to the completion of clinical development and registration. Abbott will register and commercialize the biosimilars in key emerging countries in Latin America, Southeast Asia, the Middle East and Africa, leveraging the company's broad in-country footprint to make these cutting-edge medicines available to more people in emerging countries.

mAbxience, with majority ownership from Fresenius Kabi and partial ownership from Insud Pharma, will manufacture the biosimilars in one of its two state-of-the art and Good Manufacturing Practices (GMP)-approved facilities in Spain and Argentina. Additionally, mAbxience will be responsible for achieving the clinical milestones for some of the molecules still undergoing development.

This collaboration broadens Abbott's medicines offering in emerging countries and expands an existing agreement with mAbxience, initiated in Latin America in 2018. Through this agreement, Abbott provided access to treatment options for two cutting-edge oncology biosimilars in various countries including Colombia, Chile and Peru, and in Central America.

"The expanded collaboration with mAbxience will complement our existing branded generic medicines portfolio with state-of-the-art biosimilars," said Daniel Salvadori, executive vice president and group president, Established Pharmaceuticals and Nutritional Products, Abbott. "With our large footprint in emerging countries and our commitment to put access and affordability at the center of what we do, this strategic collaboration will help more people in more places have access to affordable biosimilar medicines."  

With worldwide population aging and changing lifestyles, non-communicable diseases such as cancer are on the rise¹. For people in emerging countries, access to care is often not optimal due to physical challenges in accessing a doctor – especially in rural areas – and limitations in standards of care, as the latest innovations may not be available. Lacking access to treatment options and care is one of the reasons why people in emerging countries are much more likely to die from these diseases than people in wealthier countries.² More than three-quarters of all deaths worldwide from chronic diseases happen in emerging countries. In Brazil and Mexico, up to 40 percent of cancer patients who may benefit from biologics do not receive the therapy they need.³

"Collaborating with Abbott's medicines business is a key strategic step to help bring our biosimilars into the hands of more people who need them," said Emmanuelle Lepine, chief executive officer, mAbxience. "Abbott shares a common vision of making high-quality medicines available so that healthcare systems can have cost-effective treatment options, with an opportunity for more people around the world to get healthier. This new agreement supports our strategy of becoming a leading global player within the biosimilar space."

This collaboration will commercialize biosimilars in select key emerging markets. It will help introduce life-saving treatments in key oncology, women's health and respiratory diseases for the first time in some countries, at a fraction of the cost of originator biologics, making it more accessible and affordable for healthcare systems in these countries.

About Abbott:
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 115,000 colleagues serve people in more than 160 countries.

Connect with us at www.abbott.com, on LinkedIn at www.linkedin.com/company/abbott-/, on Facebook at www.facebook.com/Abbott and on Twitter @AbbottNews and @AbbottGlobal. 

About mAbxience:
mAbxience is a Spanish-based company specializing in the development, production, and commercialization of biopharmaceuticals. In August 2022, Fresenius Kabi and Insud Pharma entered into an agreement whereby Fresenius Kabi acquired a majority stake of mAbxience, making it a global, vertically integrated fully-fledged biotechnology company. For more insights into mAbxience and the company's biosimilars business and contract development and manufacturing organization (CDMO) business, please visit https://www.mabxience.com/ or connect on LinkedIn.

¹ Pan American Health Organization. (2023, June 30). The rising burden of non-communicable diseases in the Americas and the impact of population aging: a secondary analysis of available data - PAHO/WHO | Pan American Health Organization. www.paho.org. https://www.paho.org/en/node/91897
² WHO. Non communicable diseases. 2022. Available from: https://www.who.int/news-room/fact-sheets/detail/noncommunicable-diseases
³ IQVIA Institute for Human Data Science. 2020. The Impact of Biosimilar Competition in Europe. Available from:  https://www.iqvia.com/library/white-papers/the-impact-of-biosimilar-competition-in-europe

 

View original content:https://www.prnewswire.com/news-releases/abbott-broadens-access-to-cutting-edge-biosimilars-in-key-emerging-markets-301932923.html

SOURCE Abbott