Teva and Lonza Announce Strategic Partnership

23-Jan-2009 - Israel

Teva Pharmaceutical Industries Ltd. and Lonza Group Ltd. announced their agreement to establish a joint venture to develop, manufacture and market a portfolio of biosimilars. Through this joint venture, Lonza and Teva bring together highly complementary capabilities that will significantly advance the partners' efforts to secure a leading position in the emerging biosimilars market. Teva and Lonza will cooperate to develop, manufacture and market a number of affordable, efficacious and safe generic equivalents of a selected portfolio of biologic pharmaceuticals.

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 this agreement are not being disclosed.

The companies will continue to assess their cooperation under the joint venture as both Teva and Lonza retain the ability to explore additional opportunities in the area of biosimilars beyond the scope of this partnership.

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