Novartis Likely Delayed In Launching Copycat Of Amgen Blockbuster

 
(Ref: Investor's Business Daily)
  • Evercore analyst Umer Raffat said Thursday, citing a court filing, that Novartis' Sandoz unit will likely be delayed in launching a biosimilar of Amgen's blockbuster Enbrel, Investor's Business Daily reported.

  • While a patent trial was scheduled to begin April 17, according to Raffat, attorneys for Sandoz said in court documents that they would prepare for the trial to start on June 20.

  • In August 2016, the FDA approved Sandoz's Enbrel biosimilar, Erelzi, which cannot be launched until Amgen and Sandoz settle their patent case.

  • Importantly, the consensus already is down on Enbrel, the analyst said.

  • In 2018, the consensus expects sales to fall 7 percent to $4.83 billion, with analyst reportedly expecting Enbrel sales to continue declining through 2025, when they expect sales of $2.86 billion.

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