Hyphens Pharma inks exclusive licensing deal with Favorex to commercialise biosimilar in Singapore, Malaysia, Philippines
CATALIST-LISTED Hyphens Pharma 1J5 has inked an exclusive licensing deal to commercialise an antibody biosimilar drug in Singapore, Malaysia, and the Philippines, in order to expand their dermatology product offerings for Asia.
The pharmaceutical and consumer healthcare company announced on Tuesday (Dec 14) that it has signed an exclusive licence and supply agreement with Favorex, a subsidiary of DKSH, to commercialise Ustekinumab biosimilar, produced by multinational biopharmaceutical company Alvotech.
Biosimilars are close copies of biologic drugs with expired or expiring patents. The Ustekinumab biosimilar, which is undergoing clinical studies, is a human monoclonal antibody that aims to treat immune-mediated disorders such as plaque psoriasis, psoriatic arthritis and Crohn's disease. Worldwide sales of Ustekinumab are estimated to reach US$8.4 billion in 2021, according to an online report.
Lim See Wah, executive chairman and chief executive officer of Hyphens Pharma, said in a press statement: "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," he added.
The exclusive licence and supply agreement will not have a material effect on the net tangible assets or earnings per share of Hyphens Pharma International - of which Hyphens Pharma is a subsidiary - for the financial year ending Dec 31, said Hyphens Pharma.
Shares of Hyphens Pharma ended Tuesday at S$0.30, up S$0.005 or 1.7 per cent.
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