Sandoz-Henlius Biosimilar Deal Bolsters Oncology Portfolio

By EC Assets · Published 17 August 2026

Sandoz shares rose following a biosimilar deal with Henlius valued at $322 million. The agreement establishes a global collaboration license between Sandoz and Shanghai Henlius Biotech, Inc. This collaboration focuses on commercializing a proposed biosimilar of Yervoy. The biosimilar targets multiple indications for oncology treatment. Henlius will receive $31 million upfront as part of the agreement. The company could also receive up to $270 million in milestone payments. This licensing agreement was announced by Shanghai Henlius Biotech, Inc. on April 29, 2025. The proposed biosimilar targets ipilimumab, a leading oncology therapy. Yervoy is the reference medicine for this therapy. Sandoz, a global leader in generic and biosimilar medicines, gains commercialization rights through this agreement. The deal grants Sandoz rights for the biosimilar in various cancer types. The net sales for the reference medicine, Yervoy, are estimated at $2.5 billion. Henlius will be responsible for the development of the biosimilar. Sandoz will focus on its commercialization. The collaboration aims to bring this oncology therapy to a global market. Sandoz's ticker symbols are SIX: SDZ and OTCQX: SDZNY. Henlius's ticker is 2696.HK. This article is intended for informational purposes only. It does not constitute investment advice.