OneSource Falls 3% on Formycon Manufacturing Deal

OneSource Specialty Pharma shares fell as much as 3.17% on Tuesday, 14 July, touching a day low of Rs 1,620.00 on the NSE.

The drop came after the company announced a manufacturing partnership with Germany based biosimilar developer Formycon AG.

The deal was disclosed through an exchange filing on Tuesday. Under the agreement, OneSource will act as a strategic manufacturing partner for Formycon.

OneSource will provide integrated drug substance and drug product manufacturing for Formycon. This work will be carried out from OneSource’s biologics facility in Bengaluru.

The partnership brings together two different strengths. Formycon contributes its biosimilar development expertise, while OneSource brings its end to end biologics manufacturing platform.

Together, the companies aim to support Formycon’s global biosimilar pipeline. OneSource said the goal is to advance access to biosimilars through scalable, high quality and cost efficient manufacturing.

OneSource CEO Neeraj Sharma said the partnership brings together Formycon’s development expertise and OneSource’s manufacturing capabilities. He added that this expands access to affordable biologics for patients worldwide.

Formycon CEO Stefan Glombitza called the tie up an important step for his company’s manufacturing network. He said it fits Formycon’s FYB4Growth strategy, which focuses on reliable and cost efficient production.

Glombitza also said OneSource meets Formycon’s standards for quality and operational excellence. This makes OneSource a strong addition to Formycon’s list of strategic manufacturing partners.

On its own operations, OneSource runs five manufacturing facilities. These are approved by global regulators including the US FDA and the European Medicines Agency.

Formycon, headquartered in Munich, already has three biosimilars in the market. Four more candidates are currently under development at the company.

Coming to the stock price, shares were trading at Rs 1,622.60 on the NSE at 2:06 pm. That marked a decline of 3.01% from the previous close of Rs 1,673.00.

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