- Biosimilars developer impresses with sustained sales growth
- Only biotech company in Europe’s top ten
- FT1000 placement confirms Formycon’s status as a growth Champion
Munich – The biosimilars company Formycon has ranked 7th in the FT1000 list compiled by the highly respected business newspaper the Financial Times and data provider Statista, making it the only biotech company to appear in the top ten. The rankings, which have now been compiled for the second time, list Europe’s 1,000 strongest-growing companies that have achieved the highest percentage sales growth between the financial years of 2013 and 2016.
This placement represents a further honor in recognition of Formycon’s dynamic growth: In 2016 and 2017, Formycon was crowned growth champion in the “Chemistry and Pharmaceuticals” category by the news magazine Focus. Formycon took 1st place in this segment out of 500 companies in Germany.
Dr. Nicolas Combé, board member and CFO of Formycon, said: “We are absolutely delighted by this award and see this as confirmation of our strategic focus. At this stage in the company’s life, the financing of our development activities is of central importance. Through existing licensing agreements, a joint venture and our solid liquidity, we are excellently placed and in a very promising position for a biotech company.”
Dr. Stefan Glombitza, board member and COO of Formycon, was also thrilled by the company’s top-ten placement on the FT1000 list: “The rewarded growth reflects the continuous progress of our biosimilar programs, which we are supporting by a structured organizational development. All these activities are consistently targeting a clear goal: to provide through our biosimilar developments as many patients as possible with access to high-quality therapies and sustainably relieve the financial burden from health systems.”
The complete FT1000 list is already available to view online. A special printed edition will appear on April 30, 2018 in the Financial Times.
The overall FT1000 rankings can be found here
More information about the rankings can be found here
About Formycon:
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.
About Biosimilars:
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.
Press & IR Contact
Sabrina Müller
Senior Manager Corporate Communications and
Investor Relations
T + 49 89 86 46 67 149
F + 49 89 86 46 67 110
sabrina.mueller@formycon.com
Formycon AG
Fraunhoferstr. 15
82152 Planegg/Martinsried
Germany
www.formycon.com
Disclaimer:
This press release may contain forward-looking statements and information which are based on our current expectations and certain assumptions. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, performance of the company, development of the products and the estimates given here.
Such known and unknown risks and uncertainties comprise, among others, the research and development, the regulatory approval process, the timing of the actions of regulatory bodies and other governmental authorities, clinical results, changes in laws and regulations, product quality, patient safety, patent litigation, contractual risks and dependencies from third parties. With respect to pipeline products, Formycon AG does not provide any representation, warranties or any other guarantees that the products will receive the necessary regulatory approvals or that they will prove to be commercially exploitable and/or successful.
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