Sandoz-Henlius $322m Deal Targets 10 New Biosimilars

Sandoz has signed a collaboration agreement worth up to $322 million with Shanghai Henlius Biotech to develop and commercialise up to 10 biosimilars, positioning the Swiss biosimilar leader to capitalise on an unprecedented wave of global biosimilar loss-of-exclusivity events. Announced on 17 August 2026, the deal includes up to $100.5 million in near-term payments, with Henlius manufacturing and Sandoz taking worldwide commercialisation rights outside China.

The initial batch includes a reference to Eli Lilly and Merck KGaA’s Erbitux (cetuximab), an antibody used to treat colorectal cancer and forms of squamous cell carcinoma that generated $1.7 billion in global sales in 2025 (up 6.6% year-on-year). While Erbitux’s core patents have expired, no biosimilars have been marketed due to the compound’s structural complexity, creating a substantial first-mover opportunity. Sandoz and Henlius will also work on biosimilars to Amgen’s cholesterol-lowering drug Repatha (evolocumab) and GSK’s lupus drug Benlysta (belimumab), plus a recombinant human hyaluronidase for subcutaneously administered biosimilars.

The deal builds on an April 2025 oncology-focused agreement between the two companies and marks one of the largest biosimilar partnering agreements in Sandoz’s history. Sandoz’s biosimilar pipeline now stands at 39 assets, with potential to expand to 46 through the Henlius partnership. Sandoz CEO Richard Saynor positioned the deal as another step toward capturing significant share of the unprecedented biosimilar market opportunity ahead. GlobalData projects that the share of global drug sales under patent protection will fall to just 4% by 2030, from 12% in 2022.

The commercial signal is a biosimilar market at the cusp of transformation, with the coming patent cliff opening some of the largest commercial opportunities in the sector’s history. Sandoz’s aggressive expansion via Chinese biotech partnership positions it as the leading pure-play biosimilar franchise. Expect Teva, Celltrion, Samsung Bioepis, Biocon, Coherus, Fresenius Kabi and Alvotech to sharpen their positioning through 2026 and 2027.

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