Teva and Lonza form biosimilars JV

Israeli generics giant Teva Pharmaceutical Industries and Switzerland-based custom peptide manufacturer Lonza are to establish a  joint venture to develop, manufacture and market a portfolio of  biosimilars.

The joint venture is expected to commence activities during the first  quarter of 2009, subject to receipt of any applicable regulatory  approvals. Financial details of the agreement are not being disclosed.

"We had identified biosimilars as a major growth driver for Teva in our  long-term strategy and have been augmenting our knowledge base,  capabilities and infrastructure to position Teva as a leader in this  market," said Shlomo Yanai, the firm's chief executive.