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.

Related articles
Alvotech and Finesse enter into biosimilars collaboration

Alvotech invests US$250 million in biosimilars

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

Permission granted to reproduce for personal and non-commercial use only. All other reproduction, copy or reprinting of all or part of any ‘Content’ found on this website is strictly prohibited without the prior consent of the publisher. Contact the publisher to obtain permission before redistributing.

Copyright – Unless otherwise stated all contents of this website are © 2019 Pro Pharma Communications International. All Rights Reserved.