Alvotech Initiates Confirmatory Patient Study for AVT16, a Proposed Biosimilar to Entyvio®

Core Insights - Alvotech has initiated a confirmatory patient study for AVT16, a biosimilar candidate to Entyvio® (vedolizumab), which aims to demonstrate its comparative efficacy, safety, and immunogenicity in patients with moderate to severe active Ulcerative Colitis [1][2][3] - Entyvio generated approximately $5.4 billion in global sales over the last 12 months up to June 30, 2024, indicating a significant market opportunity for biosimilars [1][2] - Alvotech's current biosimilars portfolio includes treatments for autoimmune diseases, eye disorders, bone diseases, respiratory diseases, and cancer, with two biosimilars already approved and marketed [3][8] Company Overview - Alvotech is a global biotech company focused on developing and manufacturing biosimilar medicines, with a commitment to increasing access to cost-effective biologic treatments [2][8] - The company has a pipeline that includes nine disclosed biosimilar candidates, targeting various diseases, and plans to file marketing applications for three candidates in 2024 [3][8] - Alvotech has established strategic partnerships for global reach, including collaborations with Teva Pharmaceuticals and other companies across multiple regions [8]