Munich – The biosimilar company Formycon AG has today announced that Dr. Stefan Glombitza will join the company on October 1, 2016 and add his strengths to the Management Board. In addition to the existing Board Members Dr. Carsten Brockmeyer and Dr. Nicolas Combé, Dr. Glombitza will in future act as Chief Operating Officer (COO), focusing especially on the company’s operational development activities, while CEO Dr. Brockmeyer will focus more on the areas of strategy, synergies and developing the business further. Dr. Combé will continue to be in charge of Formycon’s finances.
Dr. Glombitza, 51, has more than twenty years of extensive experience in the pharmaceutical industry and has particular expertise in the generics sector. After studying pharmacy at the University of Regensburg and subsequently gaining his doctorate, he began his professional career in 1995 as Medical Affairs Manager at Hexal AG. As Head of the Medicines Department, he advanced the introduction of international project management in Hexal AG’s development department to a crucial point and ultimately was appointed to the Management Board of Hexal Pharmaforschung as Head of Project Management.
With the takeover by Novartis in 2005, Dr. Glombitza’s remit expanded to cover leadership of global project and portfolio management within Sandoz’s generics division, a global network of eight international development centers. After four successful years in this role came the new challenge of establishing a central shared-service organization for the Regulatory Affairs, Medicine, Pharmacovigilance and Quality Assurance divisions of all of the brands within the German business sector. Dr. Glombitza developed and implemented this new organizational concept and headed up the Pharmaceutical Affairs division until 2013, when he returned to global development. From October 2013, he was in charge of the global development center at the Austrian sites of Kundl and Schaftenau. This development center, with its international project portfolio, represents an important pillar of Sandoz’s development.
“With Dr. Glombitza we have successfully brought on board a renowned expert and experienced pharmaceutical manager. We are very much looking forward to working with him,” said Dr. Olaf Stiller, Chairman of the Formycon Supervisory Board. “Formycon’s encouraging development and the associated company growth means that the tasks and challenges within the business have grown too. We firmly believe that Dr. Glombitza will, with his expertise, be able to help us take Formycon forward on its journey into the future.”
“I’m absolutely delighted to be playing my part in the future development of Formycon in this key role,” added Dr. Glombitza. “The company has impressed me with its tremendous development expertise and strong strategic positioning. I’m very proud to be contributing my experience from my previous professional roles to the company’s future and I am convinced that we will complement each other very well on the Management Board. From October, I will be showing my unwavering commitment to taking Formycon further forward on its path to growth.”
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.