TAK - Alvotech Advanz Pharma ink pact for five potential biosimilars in Europe

2023-05-24 06:33:55 ET

• U.K.-based Advanz Pharma signed an agreement to get exclusive rights from Alvotech ( NASDAQ: ALVO ) to commercialize five proposed biosimilars in Europe.
• Alvotech said it will be responsible for development and commercial supply while Advanz will be responsible for registration and commercialization in Europe.
• The agreement includes proposed biosimilars to Johnson & Johnson's ( JNJ ) drug Simponi (golimumab), Takeda Pharmaceutical's ( TAK ) Entyvio (vedolizumab), and three additional early-stage undisclosed biosimilar candidates, according to the companies.
• Alvotech said that according to IQVIA, the current addressable market for the five biosimilars is over $4B for the markets under the scope of the agreement.
• In February, the companies signed an agreement to commercialize AVT23, a proposed biosimilar to Novartis ( NVS ) and Roche's ( OTCQX:RHHBY ) ( OTCQX:RHHBF ) ( OTCPK:RHHVF ) Xolair (omalizumab). The agreement covers the European Economic Area, the U.K., Switzerland, Canada, Australia, and New Zealand.

• More on Alvotech

• Alvotech: Biosimilar Specialist Targeting Lucrative Markets

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