On 18 June 2024, Alvotech announced that it has entered into an agreement with Advanz Pharma in relation to the commercialisation in Europe of Alvotech’s AVTO6 and AVT29, biosimilars to Regeneron’s Eylea® (aflibercept) in low (2mg) and high (8mg) doses, respectively. Advanz Pharma’s commercialisation rights are exclusive throughout Europe, except in Germany and France, where they are semi-exclusive.
Under the agreement, Advanz Pharma is required to make an upfront payment to Alvotech, with further payments due on certain development and commercialisation milestones.
In February 2023, Alvotech and Advanz Pharma entered into an exclusive agreement in relation to the commercialisation of AVT23, biosimilar to Novartis’ Xolair (omalizumab). That agreement covered Europe, UK, Switzerland, Canada, Australia and New Zealand.