Israel : TEVA, LONZA to put an end to TL-JV.
Started in 2009 for the development, manufacturing and marketing of biosimilars, TL-JV will now break off advancing the individual strategies of both the firms.
This decision supports our ability to maintain a highly selective approach in our efforts to create a balanced portfolio of biosimilars, biobetters and innovative biologics that align with our overall portfolio and areas of disease focus, and by doing so better support our patients in these areas, said Teva CSO and global R&D president Dr Michael Hayden.
According to its biologics strategy, Teva is likely to build a balanced portfolio of biosimilars, biobetters and new biologics, while Lonza will concentrate on core expertise in contract manufacturing and cell line development and ceases investing in non-strategic areas.
With the discontinuation of the joint venture we will cease investing in areas that are not strategic to Lonza such as clinical developments and end product commercialization, said Lonza pharma and biotech market segment COO Dr Stephan Kutzer.
2013 Al Bawaba (Albawaba.com)
Provided by Syndigate.info an Albawaba.com company
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|Date:||Jul 29, 2013|
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