Responsibility
Improving access to importantmedicines
Our mission is to become a driving force in the field of biosimilars. That way, we can make a sustainable contribution to global healthcare: We are committed to improving access to cutting-edge and effective therapies through affordable medicines worldwide. With our biosimilars, we are not only helping many previously underserved patients, but are also helping to ease the financial burden on healthcare systems.
Our Mission
The number of noncommunicable diseases (NCDs) is increasing rapidly worldwide and NCDs are currently responsible for almost 75% of all deaths worldwide. Thus, the need for innovative therapies for chronic diseases or cancer is growing rapidly1.
Over the years, the knowledge about the human immune system has grown significantly and in the last 40 years, the development of biological therapies (biologics) has gained momentum.
Biologicals have significantly improved the treatment of many serious diseases and now account for more than a third of the pharmaceutical market in Germany2. However, biologics are usually very expensive. Due to the high cost of treatment, and even in countries such as Germany, patients are often only eligible for biopharmaceutical therapy after long waiting times and when all other options have been exhausted.
Formycon is pursuing a clear goal
Formycon’s contribution is to improve access to essential medicines. To this end, we have focused on and are specialists in the development of biosimilars. Biosimilars are successor products of biopharmaceutical drugs whose legal protection periods have expired. When biosimilars enter the market, they create a competitive dynamic that increases cost efficiency in the market and improves access to therapy. For the cost bearers within the healthcare sector, such as health insurers, the cost savings arising from biosimilars mean that more patients can be treated with biopharmaceutical substances than previously.
Thus, Formycon is pursuing a clear goal: With our business model, we want to provide as many people as possible with cost-efficient and high-quality biopharmaceutical follow-up drugs to combat serious diseases and relieve the burden on healthcare systems worldwide.
„The clinical trials show for the first time what improvements in clinical symptoms we can achieve for patients with our biosimilars – and that our work is important.“
Andrey Trukhmanov
Clinical Development Manager
Responsible management
However, our contribution to society goes beyond the development and delivery of biosimilars; additionally, our main responsibility is to minimize any negative impact arising from our business activities on environment and society and to meet the expectations and needs of key stakeholders. Therefore, Formycon bases its business decisions on the principles of corporate responsibility and sustainable management.
1 Increasing adoption of quality-assured biosimilars to address access challenges in low- and middle-income countries, Generics and Biosimilars Initiative Journal, May 2024, https://gabi-journal.net/increasing-adoption-of-quality-assured-biosimilars-to-address-access-challenges-in-low-and-middle-income-countries.html
2 Biopharmaceuticals account for more than a third of the pharmaceutical market, aerzteblatt.de, January 2024, https://www.aerzteblatt.de/nachrichten/148389/Biopharmazeutika-machen-mehr-als-ein-Drittel-des-Arzneimittelmarktes-aus
