The Ustekinumab biosimilar, a drug that treats Crohn’s disease, plaque psoriasis and psoriatic arthritis, is produced by Alvotech Hf.
According to an article in Nature magazine on Dec 3, the worldwide sales of Ustekinumab are estimated to reach US$8.4 billion ($11.48 billion) in 2021.
Lim See Wah, executive chairman and CEO of Hyphens Pharma says, “Dermatology is one of our focus areas and we want to bring to market innovative medical dermatological products to meet the needs of patients suffering from various skin disorders. We were interested to add Ustekinumab to our product portfolio because of its dermatology indications, which we believe will help to enhance our dermatology product offerings for Asia.”
Peter Dolinsky, vice president of DKSH’s Own Brands Healthcare, Asia Pacific business adds, “We are excited to partner with Hyphens Pharma to help bring Alvotech’s Ustekinumab product to Singapore, Malaysia, and the Philippines.”
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“We are committed to bringing high-quality medical products to Asian patients and believe that biosimilars have a tremendous opportunity to enhance the standard of care for several diseases across Asian markets,” he continues.
The exclusive license and supply agreement will not have a material effect on the group’s net tangible assets (NTA) or earnings per share (EPS) for the financial year ending Dec 31.
As at 2.47pm, shares in Hyphens Pharma are trading 1 cent higher or 3.39% up at 30.5 cents.
Photo: Albert Chua/The Edge Singapore
