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Egis enters agreement with Celltrion to distribute biopharmaceutical products

Hungarian drug company Egis signed an agreement with South Korea's Celltrion Group to distribute Celltrion's biopharmaceutical products based on FDA/EMA standard, Egis announced.

The cooperation between Egis and Celltrion will provide physicians and patients with multiple biosimilar drugs for state-of-the-art biological treatment. The Celltrion Group is one of the world's leading biopharmaceutical companies specializing in monoclonal antibody capabilities.

With this agreement, Egis will have the opportunity to enter the biopharmaceutical markets in oncology, autoimmune and inflammatory diseases. Egis is aiming at a market of more than €600 million with double-digit growth. The launches are planned to take place between 2012 and 2018. Commercial launch of the first biosimilar product is planned in 2012 or early 2013 and is expected to generate about €30 million in revenue the following year. (MTI – Econews)