Alvotech and Advanz Pharma Sign Commercialization Agreement for Proposed Biosimilar to Eylea® LD/HD in Europe

Core Insights - Advanz Pharma has entered into an exclusive partnership with Alvotech to commercialize Alvotech's biosimilar candidates for Eylea® in Europe, specifically AVT06 and AVT29 [1][2][3] - Eylea® generated reported sales of $2.9 billion in Europe in 2023, indicating a significant market opportunity for the biosimilar candidates [2] - Advanz Pharma will handle registration and commercialization in Europe, while Alvotech will manage development and supply, with exclusive rights in most European countries [2][3] Company Overview - Alvotech is a biotech company focused on developing and manufacturing biosimilar medicines, aiming to be a global leader in the biosimilars market [6] - Advanz Pharma specializes in specialty, hospital, and rare disease medicines, with a commercial presence in over 90 countries and a focus on improving patient access to innovative therapies [8] - The partnership between Alvotech and Advanz Pharma has expanded to include multiple biosimilar candidates, reflecting a strategic collaboration to enhance their market presence [4][3] Product Details - AVT06 and AVT29 are biosimilar candidates to Eylea® that target vascular endothelial growth factors (VEGF) to treat eye disorders [5] - Alvotech announced positive results from a study showing therapeutic equivalence between AVT06 and Eylea®, which is crucial for regulatory approval [3] - The commercialization agreement includes an upfront payment and milestone payments based on development and commercialization achievements [2] Market Context - The biosimilars market is expected to grow, driven by the increasing demand for affordable biologics and the need for broader patient access [3] - Advanz Pharma's strategy includes leveraging its existing capabilities in specialty pharmaceuticals to ensure successful market entry for the biosimilar candidates [1][3] - The partnership aims to capitalize on the significant sales potential of Eylea® and expand the availability of biosimilars in Europe [2][3]