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GUANGZHOU, China - Bio-Thera Solutions (688177:SH), a biopharmaceutical company with impressive gross profit margins of 75% and a market capitalization of $1.7 billion, announced Thursday it has expanded its partnership with Intas Pharmaceuticals, granting exclusive commercialization and license rights in Canada for BAT2506, a proposed golimumab biosimilar.
The agreement extends the companies’ existing partnership to include the Canadian market for the biosimilar referencing Simponi (golimumab), a human monoclonal antibody that targets tumor necrosis factor alpha. The reference medicine has been approved in Canada for several indications including rheumatoid arthritis, psoriatic arthritis, ankylosing spondylitis, and ulcerative colitis.
"Canada is an important market for Bio-Thera, and this partnership is the beginning of a concerted effort to bring our biosimilar products to Canada," said Bert Thomas, Senior Vice President of Business Development at Bio-Thera. According to InvestingPro data, the company’s strategic expansion comes amid expectations of sales growth and improved profitability this year.
Chrys Kokino, President of North America Accord, stated the agreement "strengthens our biosimilar pipeline, a vital component of our North American growth strategy."
Mike Reid, President of Accord Canada, noted that biosimilars represent "both an economic and clinical opportunity" in Canada, potentially expanding treatment options while reducing costs for provincial drug plans, hospitals, and patients.
Bio-Thera Solutions is a biopharmaceutical company developing innovative therapies and biosimilars, with five approved products already in its portfolio. The company has more than 20 candidates in clinical trials, focusing on immuno-oncology and targeted therapies.
The financial terms of the agreement were not disclosed in the company’s press release.
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