Under the agreement, Advanz will be responsible for the registration and commercialisation of the candidates in Europe and Alvotech will take care of the development and commercial supply
Alvotech and Advanz Pharma to commercialise five biosimilar candidates in Europe. (Credit: Christine Sandu on Unsplash)
Biotech company Alvotech and UK-based pharmaceutical company Advanz Pharma have signed a partnership agreement for the supply and commercialisation of five biosimilar candidates in Europe.
Under the agreement, Advanz Pharma will be responsible for the registration and commercialisation of the candidates in Europe and Alvotech will take care of the development and commercial supply.
The partnership agreement includes proposed biosimilars to Simponi (golimumab), Entyvio (vedolizumab) and three more early-stage unrevealed biosimilar candidates.
The pharmaceutical company will use its current speciality and hospital capabilities in Europe to make successful market registration, commercialisation, and patient access.
Alvotech CEO and chairman Robert Wessman said: “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.”
According to US-based IQVIA, the present addressable market for these biosimilars is around $4bn for the marketplaces in the scope of the deal.
Advanz Pharma CEO Steffen Wagner said: “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 speciality, hospital, and rare disease medicines in Europe.”
Recently, both firms agreed on the commercialisation of AVT23, a proposed biosimilar to Xolair (omalizumab), in the European Economic Area, the UK, Switzerland, Canada, Australia, and New Zealand.
Xolair is an antibody that targets free IgE and is used to treat patients with allergic asthma, chronic spontaneous urticaria (CSU) and nasal polyps.
AVT23 is an investigational product and has not gained regulatory clearance in any nation.
In December 2021, Alvotech agreed to merge with Oaktree Acquisition Corp. II, a special purpose acquisition company (SPAC), to become a publicly-traded entity in a $2.25bn deal.