Pharma Focus Europe

Alvotech enters into commercialization agreement with Advanz Pharma for proposed biosimilar to Xolair® (omalizumab)

Tuesday, February 07, 2023

Alvotech, a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide, today announced that it has entered into an exclusive agreement with Advanz Pharma, for the commercialization of AVT23, a proposed biosimilar to Xolair® (omalizumab).  The agreement covers the European Economic Area, UK, Switzerland, Canada, Australia and New Zealand.

“We look forward to working with Advanz Pharma on the commercialization of this important therapy in respiratory disease,” said Anil Okay, Chief Commercial Officer of Alvotech. “This agreement highlights our joint commitment to provide better patient access to more affordable biologics around the world.”

According to the agreement, Alvotech will be responsible for development and manufacture, while Advanz Pharma will handle registration and commercialization. The estimated market size of the reference product for the region included under this agreement is over US$ 1 bn, according to market data from IQVIA.

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