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Abbott (ABT) to Commercialize Biosimilars in Emerging Markets
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Abbott (ABT - Free Report) recently announced an agreement with the leading international biopharmaceutical company, mAbxience Holdings S.L. The collaboration will commercialize several biosimilar molecules in select key emerging markets.
The Abbott-mAbxience partnership dates back to 2018 through which Abbott provided access to treatment options for two cutting-edge oncology biosimilars in various countries, including Colombia, Chile and Peru and Central America. The latest expanded collaboration further complements Abbott’s current branded generic medicine portfolio with state-of-the-art biosimilars and broadens the scope of its Established Pharmaceuticals business.
About mAbxience
Spain-based mAbxience Holdings S.L. specializes in the development, production and commercialization of biopharmaceuticals. In August 2022, Fresenius Kabi and Insud Pharma entered into an agreement under which Fresenius Kabi acquired a majority stake in mAbxience — making it a global, vertically integrated, fully fledged biotechnology company.
Furthermore, as a global biopharmaceutical expert, mAbxience specializes in Contract Development and Manufacturing Organizations, utilizing advanced technology and innovative platforms to deliver integrated manufacturing solutions.
Image Source: Zacks Investment Research
News in Detail
Under the agreement, Abbott is set to commercialize biosimilars in emerging markets across Latin America, Southeast Asia, the Middle East and Africa. It will help introduce life-saving treatments in key oncology, women's health and respiratory diseases for the first time in some countries at a fraction of the cost of originator biologics, making it more accessible and affordable for healthcare systems in these countries by leveraging ABT's broad in-country footprint.
mAbxience will manufacture biosimilars in one of its two state-of-the-art, Good Manufacturing Practices-approved facilities in Spain and Argentina. Additionally, mAbxience will be responsible for achieving clinical milestones for some of the molecules still undergoing development. The first molecules are expected to launch in 2025, while others are subject to the completion of clinical development and registration.
As a backdrop, Abbott quoted data from some published estimates, which report that non-communicable diseases such as cancer are accelerating rapidly with an aging population and changing lifestyles worldwide. For people in emerging countries, physical challenges in accessing a doctor, especially in rural areas, often limit access to optimal care. The non-availability of the latest innovations further hinders access to standards of care.
More than three-quarters of all deaths worldwide from chronic diseases happen in emerging countries. In Brazil and Mexico, up to 40 percent of cancer patients who may benefit from biologics do not receive the therapy they need.
Industry Prospects
Per a Research report, the global biosimilar market is valued at 21.8 billion in 2022 and is expected to witness a CAGR of 15.9% by 2030.
Established Pharmaceuticals Business’ Growth Prospects
Abbott’s Established Pharmaceuticals business primarily focuses on building country-specific portfolios made up of high-quality medicines that meet the needs of people in emerging markets. A broad line of branded generic pharmaceutical products is sold across the largest and fastest-growing pharmaceutical markets such as India, Russia, China and Latin America.
Recently, management noted that banking on the successful execution of its Branded Generic operating model, the business is well-positioned for sustained growth in many of these growing pharmaceutical markets.
Over the next several years, the company plans to expand its product portfolio in key therapeutic areas to address the health needs of more people in emerging markets and be among the first to launch new off-patent and differentiated medicines. Abbott’s collaboration with mAbxience broadens Abbott's medicine offering in key emerging countries.
Price Performance
In the past six months, Abbott shares have increased 3.5% against the industry’s fall of 2.6%.
Haemonetics’ stock has risen 23.6% in the past year. Earnings estimates for Haemonetics have increased from $3.74 to $3.82 in 2023 and remained constant at $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have remained constant at 97 cents in the past 30 days. Shares of the company have increased 196.4% in the past year compared to the industry’s rise of 0.8%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for Intuitive Surgical’s 2023 earnings have remained constant at $5.57 per share in the past 30 days. Shares of the company have increased 52.6% in the past year compared to the industry’s growth of 4.7%.
ISRG’s earnings beat estimates in three of the trailing four quarters and missed in one, the average surprise being 4.19%. In the last reported quarter, Intuitive Surgical delivered an earnings surprise of 7.58%.
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Abbott (ABT) to Commercialize Biosimilars in Emerging Markets
Abbott (ABT - Free Report) recently announced an agreement with the leading international biopharmaceutical company, mAbxience Holdings S.L. The collaboration will commercialize several biosimilar molecules in select key emerging markets.
The Abbott-mAbxience partnership dates back to 2018 through which Abbott provided access to treatment options for two cutting-edge oncology biosimilars in various countries, including Colombia, Chile and Peru and Central America. The latest expanded collaboration further complements Abbott’s current branded generic medicine portfolio with state-of-the-art biosimilars and broadens the scope of its Established Pharmaceuticals business.
About mAbxience
Spain-based mAbxience Holdings S.L. specializes in the development, production and commercialization of biopharmaceuticals. In August 2022, Fresenius Kabi and Insud Pharma entered into an agreement under which Fresenius Kabi acquired a majority stake in mAbxience — making it a global, vertically integrated, fully fledged biotechnology company.
Furthermore, as a global biopharmaceutical expert, mAbxience specializes in Contract Development and Manufacturing Organizations, utilizing advanced technology and innovative platforms to deliver integrated manufacturing solutions.
Image Source: Zacks Investment Research
News in Detail
Under the agreement, Abbott is set to commercialize biosimilars in emerging markets across Latin America, Southeast Asia, the Middle East and Africa. It will help introduce life-saving treatments in key oncology, women's health and respiratory diseases for the first time in some countries at a fraction of the cost of originator biologics, making it more accessible and affordable for healthcare systems in these countries by leveraging ABT's broad in-country footprint.
mAbxience will manufacture biosimilars in one of its two state-of-the-art, Good Manufacturing Practices-approved facilities in Spain and Argentina. Additionally, mAbxience will be responsible for achieving clinical milestones for some of the molecules still undergoing development. The first molecules are expected to launch in 2025, while others are subject to the completion of clinical development and registration.
As a backdrop, Abbott quoted data from some published estimates, which report that non-communicable diseases such as cancer are accelerating rapidly with an aging population and changing lifestyles worldwide. For people in emerging countries, physical challenges in accessing a doctor, especially in rural areas, often limit access to optimal care. The non-availability of the latest innovations further hinders access to standards of care.
More than three-quarters of all deaths worldwide from chronic diseases happen in emerging countries. In Brazil and Mexico, up to 40 percent of cancer patients who may benefit from biologics do not receive the therapy they need.
Industry Prospects
Per a Research report, the global biosimilar market is valued at 21.8 billion in 2022 and is expected to witness a CAGR of 15.9% by 2030.
Established Pharmaceuticals Business’ Growth Prospects
Abbott’s Established Pharmaceuticals business primarily focuses on building country-specific portfolios made up of high-quality medicines that meet the needs of people in emerging markets. A broad line of branded generic pharmaceutical products is sold across the largest and fastest-growing pharmaceutical markets such as India, Russia, China and Latin America.
Recently, management noted that banking on the successful execution of its Branded Generic operating model, the business is well-positioned for sustained growth in many of these growing pharmaceutical markets.
Over the next several years, the company plans to expand its product portfolio in key therapeutic areas to address the health needs of more people in emerging markets and be among the first to launch new off-patent and differentiated medicines. Abbott’s collaboration with mAbxience broadens Abbott's medicine offering in key emerging countries.
Price Performance
In the past six months, Abbott shares have increased 3.5% against the industry’s fall of 2.6%.
Zacks Rank and Other Key Picks
Abbott currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and Intuitive Surgical (ISRG - Free Report) , each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 23.6% in the past year. Earnings estimates for Haemonetics have increased from $3.74 to $3.82 in 2023 and remained constant at $4.07 in 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have remained constant at 97 cents in the past 30 days. Shares of the company have increased 196.4% in the past year compared to the industry’s rise of 0.8%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for Intuitive Surgical’s 2023 earnings have remained constant at $5.57 per share in the past 30 days. Shares of the company have increased 52.6% in the past year compared to the industry’s growth of 4.7%.
ISRG’s earnings beat estimates in three of the trailing four quarters and missed in one, the average surprise being 4.19%. In the last reported quarter, Intuitive Surgical delivered an earnings surprise of 7.58%.