Teva And Alvotech Strike US Biosimilars Pact
Deal Covers Five Biosimilar Candidates With $35bn Brand Value
Teva and Alvotech have announced a major biosimilars alliance covering five products for the US market.
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Teva will get more involved in Alvotech’s quality oversight as part of enhancements to the pair’s US biosimilars collaboration that will also see two products added to the deal, as well as a $40m investment in Alvotech from the Israeli giant.
Teva has spoken of its US biosimilars alliance with Alvotech, in the wake of several major setbacks for the companies’ plans to launch a biosimilar to AbbVie’s Humira (adalimumab) juggernaut on 1 July.
Alvotech has marked another milestone by moving its proposed biosimilar to Simponi (golimumab) into Phase III comparison studies.