Abbott (NYSE:ABT), in partnership with the prominent international biopharmaceutical firm mAbxience Holdings S.L., has unveiled plans to commercialize a range of biosimilar molecules in select strategic emerging markets.
The Abbott-mAbxience alliance, initially established in 2018, enabled Abbott to provide access to advanced oncology biosimilars across various countries, including Colombia, Chile, Peru, and Central America. This new expanded collaboration will further enrich Abbott’s existing portfolio of branded generic medicines with cutting-edge biosimilars, thereby broadening the horizons of its Established Pharmaceuticals business.
About mAbxience
mAbxience Holdings S.L., headquartered in Spain, specializes in the development, production, and marketing of biopharmaceuticals. In August 2022, Fresenius Kabi and Insud Pharma entered into an agreement, with Fresenius Kabi acquiring a majority stake in mAbxience, thereby transforming it into a globally integrated and fully-fledged biotechnology company. As a global biopharmaceutical expert, mAbxience focuses on Contract Development and Manufacturing Organizations, utilizing advanced technology and innovative platforms to deliver integrated manufacturing solutions.
Detailed News
Under the terms of the agreement, Abbott will embark on the commercialization of biosimilars across emerging markets in Latin America, Southeast Asia, the Middle East, and Africa. This initiative will introduce life-saving treatments for key areas such as oncology, women’s health, and respiratory diseases, making them available for the first time in certain countries at a fraction of the cost of originator biologics. This move aims to enhance accessibility and affordability for healthcare systems in these regions, capitalizing on Abbott’s extensive in-country presence.
mAbxience will be responsible for manufacturing biosimilars in one of its two state-of-the-art, Good Manufacturing Practices-approved facilities located in Spain and Argentina. Furthermore, mAbxience will play a crucial role in achieving clinical milestones for some of the molecules that are still in the developmental phase. The initial molecules are anticipated to be launched in 2025, with the introduction of others contingent upon the successful completion of clinical development and regulatory processes.
Abbott referred to data from published estimates, highlighting the accelerating prevalence of non-communicable diseases, particularly cancer, due to factors such as global population aging and evolving lifestyles. Access to optimal healthcare in emerging countries can be hampered by physical barriers, especially in rural areas. Additionally, the unavailability of cutting-edge medical innovations further compounds the challenge of delivering quality care.
A significant majority of deaths worldwide resulting from chronic diseases occur in emerging countries, where up to 40% of potential cancer patients who could benefit from biologics do not receive the necessary therapy, as exemplified by Brazil and Mexico.
Industry Outlook
According to research reports, the global biosimilar market was valued at $21.8 billion in 2022 and is projected to exhibit a CAGR of 15.9% by 2030.
Growth Prospects for Established Pharmaceuticals Business
Abbott’s Established Pharmaceuticals business primarily concentrates on curating country-specific portfolios comprising high-quality medications tailored to meet the healthcare needs of individuals in emerging markets. The business markets a diverse range of branded generic pharmaceutical products across the largest and fastest-growing pharmaceutical markets, including India, Russia, China, and Latin America.
Recent reports from Abbott’s management highlight the business’s strong growth potential in these expanding pharmaceutical markets, attributable to the successful implementation of its Branded Generic operating model.
Over the coming years, the company intends to expand its product portfolio across key therapeutic areas to address the healthcare requirements of more individuals in emerging markets, positioning itself as one of the early providers of new off-patent and distinctive medications. Abbott’s collaboration with mAbxience extends the company’s medicine offerings in critical emerging markets.
Share Price Performance
Over the past six months, Abbott’s shares have demonstrated a 3.5% increase, in contrast to a 2.6% decline in the industry.
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Author Stephanie Bédard-Châteauneuf 
