On 31 July 2024, Teva announced that its Q2 2024 revenues increased by 7% to US$4.2 billion. While much of this is attributed to growth in Teva’s generics business, Teva notes key biosimilar developments, including the May 2024 launch of Teva/Alvotech’s Simlandi® (adalimumab-ryvk) injection, as an interchangeable biosimilar to AbbVie’s Humira® and the upcoming February 2025 launch of Teva/Alvotech’s SelarsdiTM (ustekinumab-aekn) subcutaneous injection, biosimilar to Janssen’s Stelara®.
Teva/Alvotech’s Simlandi® was the first interchangeable high-concentration, citrate-free biosimilar to Humira® approved by FDA in February 2024. SelarsdiTM was approved by FDA in April 2024. Both biosimilars were developed by Alvotech and are subject to the strategic agreement between Teva and Alvotech, under which Teva has the exclusive US commercialisation rights.