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Fuji Pharma acquires stake in Alvotech Posted 08/02/2019

Iceland-based biopharmaceutical company Alvotech announced on 19 November 2018 that Japan-based Fuji Pharma was investing in the company.

Fuji Pharma has acquired a 4.2% stake in Alvotech, a biopharmaceutical company focused on the development of biosimilars, for approximately US$50 million. This acquisition comes less than two months after the companies announced that they had entered into a partnership for the commercialization of Alvotech’s pipeline of biosimilars. Alvotech will develop and supply biosimilars from its current pipeline and Fuji Pharma will then register and sell the biosimilars in Japan [1].

Fuji Pharma’s investment into Alvotech will further strengthen the partnership between the two companies. Hirofumi Imai, Chairman of Fuji Pharma, said in a statement that ‘Fuji Pharma is extremely pleased to become partner in the growth with Alvotech. At Fuji, we strongly believe in Alvotech’s one‐of‐a‐kind biologics development and scalable manufacturing capabilities.’ Fuji Pharma will join other key shareholders in Alvotech, which include Aztiq Pharma AB, led by Robert Wessman, founder of Alvotech, and sister generic pharmaceutical company Alvogen.

Since its foundation in 2013, Alvotech has invested in a valuable biosimilar pipeline which comprises six biosimilar monoclonal antibodies for the treatment of cancer, autoimmune, inflammatory and other diseases. It expects to bring the first products to market by 2020. Alvotech owns manufacturing plants in Germany and Switzerland, and has recently built an advanced biopharmaceutical facility in Reykjavik, Iceland, in anticipation of increased supply and demand needs.

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Reference
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 Feb 8]. Available from: www.gabionline.net/Pharma-News/Alvotech-makes-deal-with-Fuji-Pharma-for-biosimilars-in-Japan

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Source: Alvotech

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