Alvotech and DKSH have announced an expansion of their strategic partnership to commercialize six new biosimilar product candidates for the Asian markets.
The initial pipeline contains biosimilar candidates addressing multiple therapeutic areas.
“We have been delighted to work with DKSH since our initial partnership began earlier this year. The partnership is designed to accelerate improved patient access for high quality biosimilar medicines in the Asian biosimilar industry. This is also another milestone for Alvotech, where we continue to extend our network of leading commercial partners around the globe,” says Mark Levick, Chief Executive Officer of Alvotech.
In March 2020, the companies announced its exclusive partnership agreement for AVT02, an adalimumab biosimilar, a leading drug indicated for the treatment of several autoimmune diseases. The collaboration includes the following markets: Taiwan, Korea, Hong Kong, Philippines, Vietnam, Thailand, Cambodia, Myanmar, Malaysia, Singapore, Indonesia, India, Bangladesh and Pakistan. These biosimilar candidates’ brand values are estimated around US$1.5 billion in annual sales in the Asia Pacific region, according to IQVIA data.
Several important strategic partnerships
This latest announcement from Alvotech and DKSH expands on a deep partnership between the two companies to accelerate the introduction of high quality biosimilar to patients in Asia. In the last twelve months, Alvotech has made very important strategic partnership agreements with leading regional and global industry players including: Teva in the U.S., Stada in Europe, JAMP in Canada, Yas Holding in the Middle East and Fuji Pharma in Japan.
Read more: Alvotech enters strategic partnership with Teva
Alvotech was founded in 2013 by the Chairman, Robert Wessman. His initial strategy was to invest in the development and manufacture of a portfolio of biosimilar monoclonal antibodies and to build a state-of-the-art manufacturing facility in Reykjavik Iceland.
Photo of Mark Levick, CEO, Alvotech