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Alvotech and Advanz Pharma have signed a strategic partnership agreement for the supply and commercialization of five biosimilar candidates in Europe.
Global biotech, Alvotech, and UK pharma company, Advanz Pharma, have signed a strategic partnership agreement for the supply and commercialization of five biosimilar candidates in Europe, it was announced in a May 24, 2023 press release.
Under the terms of the agreement, Advanz Pharma will gain the exclusive rights for commercialization of five biosimilars, including a biosimilar to Simponi (golimumab) and Entyvio (vedolizumab), from Alvotech. Advanz Pharma will be responsible for the registration and commercialization of the biosimilars within the European market and Alvotech will be responsible for the development and commercial supply of the biosimilars.
“We are very excited to extend our existing partnership with Advanz Pharma into additional therapeutic areas,” said Robert Wessman, chairman and CEO of Alvotech, in the press release. “The growth of our collaboration is based on a common vision and commitment to provide better patient access to more affordable biologics.”
“This partnership positions Advanz Pharma as a key future player in European biosimilars,” added Steffen Wagner, CEO of Advanz Pharma, in the press release. “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.”
Source: Advanz Pharma