Illinois: Abbott has announced a transformative partnership with Spain-based global biotech leader mAbxience Holdings S.L., set to revolutionize healthcare in emerging markets.
On the NYSE as ABT, Abbott is preparing to commercialize several biosimilars, focusing on oncology, women’s health, and respiratory diseases. Pending completion of clinical development and registration, these cutting-edge medicines will enter the market in 2025.
Abbott Expands Access to Biosimilars in Emerging Markets
With this strategic partnership, Abbott will register and commercialize biosimilars in Latin America, Southeast Asia, the Middle East, and Africa. Leveraging its extensive in-country presence, Abbott aims to extend access to these vital medicines to a broader population.
In addition, the manufacturing of these biosimilars will take place in state-of-the-art facilities located in Spain and Argentina, both boasting Good Manufacturing Practices (GMP) certification. Moreover, mAbxience, which is majority-owned by Fresenius Kabi with partial ownership by Insud Pharma, will handle the manufacturing process and work diligently towards achieving clinical milestones for certain molecules still in development.
State-of-the-Art Manufacturing Facilities
This collaboration expands Abbott’s healthcare offerings in emerging markets, building upon an earlier partnership initiated in Latin America in 2018. Under this agreement, Abbott enabled access to two groundbreaking oncology biosimilars in several Central American countries, Colombia, Chile, and Peru.
Daniel Salvadori, Abbott’s EVP of Established Pharmaceuticals, expressed enthusiasm for the collaboration, emphasizing enhanced access and affordability. Salvadori stated, “This partnership ensures more individuals in emerging regions can access affordable biosimilars.”
The partnership comes at a crucial juncture as global populations age, and non-communicable diseases, including cancer, continue to rise. Accessibility to healthcare, especially in rural areas, remains a significant challenge in emerging countries. Limited access to cutting-edge treatments contributes to higher mortality rates in these regions.
Global Healthcare Challenges and Solutions
75% of chronic disease deaths are in emerging nations, with 40% in Brazil and Mexico lacking cancer biologics.
Emmanuelle Lepine, the CEO of mAbxience, emphasized the collaboration’s significance in expanding access to high-quality medicines, stating, “Abbott shares our vision of making high-quality medicines accessible, enabling healthcare systems to offer cost-effective treatment options and improving global health. This new partnership aligns perfectly with our goal of becoming a prominent global player in the biosimilar arena.”
This collaboration offers hope, delivering life-saving treatments to emerging markets for patients battling oncology, women’s health, and respiratory diseases. Offering affordability, these biosimilars, priced lower than originator biologics, will enhance accessibility and affordability within these countries’ healthcare systems.
