Sandoz has entered a strategic collaboration with Shanghai Henlius Biotech to develop and commercialize up to 10 biosimilar drugs, in a milestones-based agreement worth up to $322 million. Under the terms, Henlius will handle development and manufacturing while Sandoz retains global marketing rights outside China, with near-term payments reaching $100.5 million.
The pipeline includes biosimilars referencing Erbitux for colorectal cancer, as well as Repatha and Benlysta. Sandoz CEO Richard Saynor called the agreement one of the largest ever in biosimilars. The deal expands Sandoz's biosimilar pipeline to 39 assets, with potential to reach 46.
The partnership builds on an April 2025 oncology collaboration between the two companies focused on an ipilimumab biosimilar. Sandoz shares rose as much as 3.56% on the SIX exchange following the announcement.