Alvotech, Advanz Pharma to commercialize 5 proposed biosimilars in Europe
Alvotech, a global biotech company specializing in developing and manufacturing biosimilar medicines, and Advanz Pharma, a U.K.-headquartered global pharmaceutical company with a strategic focus on specialty, hospital and rare disease medicines in Europe, have entered into an exclusive partnership agreement. The agreement regards the supply and commercialization of five biosimilar candidates in Europe. Alvotech will be responsible for the development and commercial supply, and Advanz Pharma will be responsible for registration and commercialization in Europe.
"We are very excited to extend our existing partnership with Advanz Pharma into additional therapeutic areas. The growth of our collaboration is based on a common vision and commitment to provide better patient access to more affordable biologics,” said Robert Wessman, chairman and CEO of Alvotech.
“This partnership positions Advanz Pharma as a key future player in European biosimilars. It is also an important next step in Advanz’s ambition to be a partner of choice for the commercialization of specialty, hospital and rare disease medicines in Europe,” said Steffen Wagner, CEO of Advanz Pharma.
[Read more:Alvotech, Advanz Pharma enter commercialization agreement for Xolair biosimilar]
Anil Okay, chief commercial officer of Alvotech, said, “After signing our initial partnership agreement with Advanz earlier this year, we look forward to deepening our relationship and working with Advanz on bringing additional important therapies to market in Europe.”
Susanna El-Armale, chief corporate development officer at Advanz Pharma, said, “This strategic partnership with Alvotech materially strengthens Advanz’s pipeline of specialty pharmaceuticals to drive mid- and long-term sustainable growth.”
The agreement includes candidate biosimilars to Simponi (golimumab) and Entyvio (vedolizumab) and also includes three additional early-stage, undisclosed biosimilar candidates. According to IQVIA, the current addressable market for these five biosimilars is more than $4 billion for the markets in scope of the agreement.
[Read more: AAM report: Generics, biosimilars generated $373B savings in 2021]
In February 2023, Alvotech and Advanz Pharma announced that the companies had entered into an exclusive agreement for the commercialization of AVT23, a proposed biosimilar to Xolair (omalizumab). The agreement covers the European Economic Area, U.K., Switzerland, Canada, Australia and New Zealand.