Munich – Both members of the newly implemented Advisory Board are very experienced senior healthcare executives who have contributed during their long careers substantially to the development of the global generic pharmaceutical and biopharmaceutical industry.
The Advisory Board will advise Formycon’s Executive Management Board and the Supervisory Board on strategic issues, operational aspects and growth opportunities related to Formycon’s business activities.
Gerhard Schaefer is German Citizen and graduated with a Ph.D. in Chemistry from Stuttgart University. During his more than 30 years in the generic pharmaceutical industry, he held increasing senior management positions in development, quality assurance / control and business development at Azupharma, Knoll, Stada, HEXAL and Sandoz. Among his numerous responsibilities, he was appointed to Head of Development and Business Development at HEXAL in 2001 and at the same time became Member of the Board of Executive Directors of HEXAL AG. Since the acquisition of HEXAL AG by Novartis / Sandoz in 2005 and until February 2012, he was Managing Director at Sandoz International and Head of Global Product Development and Global Business Development at Sandoz, the second largest generic pharmaceutical company, where he was managing eleven development centers worldwide.
Simon Sturge is citizen of the United Kingdom and holds a degree in Biology from Sussex University. He has over 30 years of experience in the pharmaceutical and biotech industries. Until recently, he was Corporate Senior Vice President of Biopharmaceuticals at Boehringer Ingelheim (BI), a top-20 pharmaceutical company, and among the world largest biopharmaceutical enterprises. At BI he was responsible for the biopharmaceutical business unit which has approximately 2,200 employees. From 2008-2010 he was Chief Executive of OctoPlus, a Dutch-based listed biopharmaceutical company. In 1997 he founded RiboTargets, which in 2003 reversed into British Biotech, where he was also Chief Executive Officer. British Biotech was renamed Vernalis and he remained Chief Executive until 2008. Prior to this Simon Sturge was at Celltech for 10 years where he was also on the Celltech Group Board, before he became Chief Executive Officer at Lonza Biologics.
Formycon’s CFO Nicolas Combé said: “I would like to welcome Mr. Schaefer and Mr. Sturge to our Advisory Board. The Board will play an important role in our plans to create a world-class organization in biopharmaceutical and biosimilar development and commerzialization”.
Formycon’s CEO Carsten Brockmeyer said: “I am excited about these excellent appointments. Mr. Schaefer and Mr. Sturge will bring a breadth of experience to the company. Their expertise in a wide range of fields will be invaluable in driving forward Formycon’s business objectives”.
Formycon is a leading, independent developer of high-quality biopharmaceutical medicines, especially biosimilars. The company focuses on treatments in ophthalmology, immunology and on other key chronic diseases, covering the entire value chain from technical development to the clinical phase III as well as the preparation of dossiers for marketing approval. With its biosimilars, Formycon is making a major contribution towards providing as many patients as possible with access to vital and affordable medicines. Formycon currently has four biosimilars in development. Based on its extensive experience in the development of biopharmaceutical drugs, the company is also working on the development of an innovative COVID-19 drug FYB207.
Since their introduction in the 1980s, biopharmaceuticals have revolutionized the treatment of serious diseases such as cancer, diabetes, rheumatoid arthritis, multiple sclerosis and eye diseases. In the coming years, many of these biotech drugs will lose their patent protection – and by 2020, medications with revenues of approximately USD 100 billion will be off patent. Biosimilars are follow-on versions of biopharmaceuticals, for which exclusivity has expired. They are approved via stringent regulatory pathways in highly regulated markets (such as EU, US, Japan, Canada, Australia) based on proven similarity of the biosimilar with the originator biopharmaceutical reference product. Global sales of biosimilars are estimated to exceed $15 billion by 2020. By 2030, analysts estimate that this figure could rise to over $60 billion.