Fuji Pharma Invests $50 Million in Alvotech
Japanese pharmaceutical company Fuji Pharma has acquired a 4.2% stake in Alvotech for approximately $50 million. The investment strengthens a prior partnership for biosimilar development and commercialization in Japan.
Reykjavik, Iceland – Biopharmaceutical company Alvotech announced on December 17, 2018, that Japan-based Fuji Pharma has acquired a 4.2% stake in the company for approximately $50 million. The transaction deepens the existing collaboration between Alvotech and Fuji Pharma, which was recently formalized through an exclusive agreement for the development and commercialization of biosimilars in Japan.
With this investment, Fuji Pharma joins Alvotech's key shareholders, alongside Aztiq Pharma AB and Alvogen. Alvotech is developing a pipeline of six biosimilar monoclonal antibodies targeting conditions such as cancer and autoimmune diseases, with initial product launches anticipated around 2020.
Founded in 2013, Alvotech has invested in its product pipeline and constructed a state-of-the-art biopharmaceutical facility in Reykjavik, Iceland. The company also operates development centers in Germany and Switzerland and employs over 250 scientists.
Hirofumi Imai, Chairman of Fuji Pharma, will join Alvotech's Board of Directors. He stated that the investment reflects a long-term business commitment and a strong belief in Alvotech's unique capabilities in biologic drug development and manufacturing.