On 21 May 2024, Alvotech provided its financial results for Q1 2024, reporting total revenues of US$37 million compared to US$16M for the same quarter in 2023.
Alvotech reports its highlights for Q1/24 as:
- the FDA approval of SelarsdiTM (AVT04, ustekinumab-aekn), biosimilar to Janssen’s Stelara®, in April 2024;
- its strategic partnership with Quallent for the supply of its high concentration interchangeable Humira® (adalimumab) biosimilar under private label in the US; and
- its May 24 commercial partnership with Dr Reddy’s for the commercialisation of AVT03 (denosumab), biosimilar to Amgen’s Prolia® and Xgeva® in the US, EU and UK.
Regarding its pipeline, Alvotech reports positive top-line results from studies on AVT05 (golimumab) biosimilar to Simponi® and Simponi Aria® and AVT06 (aflibercept), biosimilar to Eylea® , with the company being “on track to file marketing applications for at least three biosimilar candidates in the second half of this year”.