Alvotech Extends Biosimilar Partnership with Advanz Pharma
Alvotech and Advanz Pharma have extended their strategic partnership to commercialize five proposed biosimilars in Europe. The agreement includes significant upfront payments and future milestone-based revenue.
Alvotech has entered into a master license and supply agreement with Advanz Pharma to develop and commercialize five biosimilar candidates in the European Economic Area, the United Kingdom, and Switzerland. The agreement covers AVT05 (a biosimilar to golimumab), AVT16 (a biosimilar to vedolizumab), and three additional early-stage biosimilar candidates.
Under the terms, Alvotech will develop the product candidates and provide the necessary data and know-how to Advanz Pharma. Advanz Pharma receives exclusive rights to seek, obtain, and maintain regulatory approvals and to commercialize the products. Alvotech will receive an upfront payment of €56 million and is eligible for up to €264 million in additional payments based on achieving certain development and commercial milestones.
Alvotech will manufacture and supply the products to Advanz Pharma, which will exclusively purchase them. The pricing is set at approximately 40% of the estimated net selling price or an agreed-upon floor price. The agreements have a term of 20 years from the first launch date and can be renewed in two-year periods.
The announcement follows Alvotech's recent disclosure of reference products for two other pipeline candidates and the termination of previous agreements with STADA Arzneimittel AG concerning AVT03, AVT05, and AVT16.