Formycon Q1 2022 Financial Results and Announcement of Two New Biosimilar Products

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Formycon recently announced its sales and earnings figures for the first quarter of 2022.  Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR -4.0 million (Q1/previous year: EUR -1.7 million), which was in line with expectations.  According to the press release, the reported revenues were mainly a result of development activities for late-stage biosimilar projects FYB201 (biosimilar candidate for LUCENTIS®), FYB202 (biosimilar candidate for STELARA®), and FYB203 (biosimilar candidate for EYLEA®).  With the expected launch of FYB201 in the second half of 2022, Formycon expects to generate revenue from product commercialization for the first time.

Formycon also announced the initiation of two new biosimilar projects: FYB208 and FYB209.  Formycon has not yet disclosed the reference drugs for FYB208 or FYB209 or the indications for which it will seek approval.

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