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Alvotech signs agreements with Stada and Yas Holding Posted 29/11/2019

Alvotech has entered into a strategic biosimilars collaboration with German company Stada. The company has also announced a significant investment from Abu Dhabi-based company Yas Holding for the exclusive supply of biosimilars in the Middle East and North Africa.

American pharmaceutical firm Alvogen’s biosimilars arm, Alvotech, which is based in Iceland, has entered into a strategic collaboration with Stada for the commercialization of seven biosimilar candidates. The biosimilars are in the therapeutic areas of autoimmunity, oncology and ophthalmology. 

Stada will exclusively commercialize the products in Europe (and selected markets outside Europe). Stada’s CEO Peter Goldschmidt said: ‘The agreement with Alvotech is one of the largest commercial biosimilar cooperation’s to date, accelerating improved patient access to high quality biosimilars.’ 

Alvotech meanwhile will be responsible for development, registration and supply of the products, the originators of which currently generates US$50 billion in sales globally. 

Founder of Alvotech, Robert Wessman, said the deal was an ‘important moment’ for biosimilars.

‘This partnership has the resources and vision to accelerate the introduction and adoption of new biosimilars for patients in Europe who will get better access to high-quality products. It’s also another important milestone for Alvotech and crowns an exceptional year where we have continued to extend our network of partners around the globe.’ 

In other news, Alvotech has signed an agreement with Abu Dhabi-based investment company Yas Holding for the exclusive supply of three biosimilar candidates. Yas has acquired a 2.5% stake in the business and will commercialize the biosimilars in the MENA (Middle East and North Africa) region. 

Group CEO of Yas Holding, Murshed Al Redaini, said they were ‘very happy’ about the deal. ‘This investment is in line with one of the Yas Holding Group’s strategic drivers to invest in opportunities which will positively impact healthcare outcomes and patient quality of life. Alvotech’s potential to do both is extremely promising and we are delighted to support them in this worthy endeavour.’

Mr Wessman meanwhile said he was ‘delighted’ with the deal. ‘[Yas Holding] bring with them a highly qualified, diverse and experienced team. I am very much looking forward to working with them on continuing to establish Alvotech as an industry leader in biopharmaceuticals worldwide. This strategic investment agreement joins many signed in 2019, as we continue to develop, grow and set the standards for the future.’ 

As Mr Wessman hinted to, Alvotech have made many business deals in recent months. Back in 2018, they signed a deal with Japanese firm Fuji Pharma to supply its biosimilars in Japan [1]. More recently, in July 2019, Alvotech signed a partnership with Cipla Gulf for the commercialization of a biosimilar of the autoimmune treatment adalimumab [2].

Related articles
Alvotech signs agreement for ustekinumab biosimilar Stelara in Japan 

Fuji Pharma acquires stake in Alvotech

References
1. GaBI Online - Generics and Biosimilars Initiative. Alvotech makes deal with Fuji Pharma for biosimilars in Japan [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2019 Nov 29]. Available from: www.gabionline.net/Pharma-News/Alvotech-makes-deal-with-Fuji-Pharma-for-biosimilars-in-Japan
2. GaBI Online - Generics and Biosimilars Initiative. Alvotech and Cipla Gulf partnership announced [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2019 Nov 29]. Availble from: www.gabionline.net/Pharma-News/Alvotech-and-Cipla-Gulf-partnership-announced

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Source: Alvotech

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