Alvotech
🇮🇸Iceland
- Country
- 🇮🇸Iceland
- Ownership
- Public
- Employees
- 999
- Market Cap
- $3.5B
- Website
- http://www.alvotech.com
- Introduction
Alvotech is a biotechnology company, which engages in the development and manufacture of biosimilar medicines. The firm is focusing on the development of its product candidates. It operates through the following geographical segments: Europe, North America, Asia, and Other. The company was founded by Róbert Vilhelm Wessman in 2013 and is headquartered in Luxembourg.
EMA Approves First Ustekinumab Biosimilar, Uzpruvo
The EMA approved Uzpurvo, the first biosimilar to Stelara (ustekinumab), for Crohn disease, psoriatic arthritis, and plaque psoriasis. Developed by Alvotech and marketed by STADA, it aims to expand patient access post-July 2024. Uzpurvo targets IL-12 and IL-23 cytokines, offering a cost-effective treatment option.
Biorationality: A Dr Sarfaraz Niazi Column—A New Perspective on Biosimilars Market Challenges
Biosimilars face limited competition, with discounts unlikely to exceed 50% soon. Indian and Chinese biosimilars struggle to enter the US market due to regulatory and quality issues, delaying significant price reductions. Big pharma remains dominant, maintaining higher prices with fewer biosimilars entering the market.
Biosimilars Licensing Agreement Updates
Biocon Biologics Ltd. partners with Yoshindo Inc. to commercialize ustekinumab and denosumab biosimilars in Japan, targeting a $700M market. Alvotech and JAMP Pharma expand their partnership to include AVT16 and AVT33 biosimilars in Canada, following the launch of SIMLANDI.
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