Alvotech and Lotus Pharmaceutical sign deal for biosimilar commercialization
Alvotech and Lotus Pharmaceutical have entered into a licensing and commercialization agreement for two biosimilar candidates in the U.S. and selected Asian markets.
Alvotech, a global biotechnology company, has announced a strategic licensing and commercialization agreement with Lotus Pharmaceutical. The deal covers two of Alvotech's biosimilar candidates: AVT34, a proposed biosimilar to the oncology drug Imfinzi® (durvalumab), and AVT87, a proposed biosimilar to Hemlibra® (emicizumab), used for the prevention of bleeding episodes in patients with hemophilia A.
In the United States, the agreement allows Alvotech to commercialize both products directly alongside Lotus, while Lotus will market them through its U.S. subsidiary, Alvogen. Alvotech will maintain responsibility for product development and obtaining marketing authorizations in the U.S., and will serve as the exclusive supplier for all markets.
Lotus will hold exclusive commercialization rights in eight selected Asian markets, including South Korea, Taiwan, Thailand, Vietnam, the Philippines, Singapore, Hong Kong, and Malaysia. Lotus will manage local regulatory submissions and commercialization efforts in these regions.
The agreement has a potential value of up to approximately $150 million in upfront and milestone payments for Alvotech, in addition to ongoing supply revenues. Alvotech CEO Lisa Graver stated the deal is an important evolution of the company's commercial strategy, enabling direct participation in U.S. commercialization and expanding the reach of these assets into key Asian markets through the partnership with Lotus.