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Alvotech and Advanz Pharma extend strategic partnership to commercialize five proposed biosimilars in Europe
Advanz Pharma secures exclusive rights from Alvotech to commercialize five proposed biosimilars in EuropeThe agreement includes proposed biosimilars to
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[{"type":"text","content":"Advanz Pharma secures exclusive rights from Alvotech to commercialize five proposed biosimilars in EuropeThe agreement includes proposed biosimilars to Simponi® (golimumab), Entyvio® (vedolizumab) and three additional early-stage undisclosed biosimilar candidatesAdvanz Pharma will leverage its existing specialty and hospital capabilities in Europe to ensure successful market registration, commercialization, and patient access Alvotech (NASDAQ: ALVO), a global biotech company specializing in the development and manufacture of biosimilar medicines for patients worldwide and Advanz Pharma, a UK headquartered global pharmaceutical company with a strategic focus on specialty, hospital, and rare disease medicines in Europe, today announced that the companies have entered into an exclusive partnership agreement regarding the supply and commercialization of five biosimilar candidates in Europe. Alvotech will be responsible for development and commercial supply and Advanz Pharma will be responsible for registration and commercialization in Europe. \"We are very excited to extend our existing partnership with Advanz Pharma into additional therapeutic areas. The growth of our collaboration is based on a common vision and commitment to provide better patient access to more affordable biologics,” said Robert Wessman, chairman and CEO of Alvotech. “This partnership positions Advanz Pharma as a key future player in European biosimilars. It is also an important next step in Advanz’s ambition to be a partner of choice for the commercialization of specialty, hospital, and rare disease medicines in Europe.”, said Steffen Wagner, CEO of Advanz Pharma. Anil Okay, Chief Commercial Officer of Alvotech stated: “After signing our initial partnership agreement with Advanz earlier this year, we look forward to deepening our relationship and working with Advanz on bringing additional important therapies to market in Europe.” Susanna El-Armale, Chief Corporate Development Officer at Advanz Pharma, stated: “This strategic partnership with Alvotech materially strengthens Advanz’s pipeline of specialty pharmaceuticals to drive mid- and long-term sustainable growth.” The agreement includes candidate biosimilars to Simponi® (golimumab) and Entyvio® (vedolizumab) and also includes three additional early-stage, undisclosed biosimilar candidates. According to IQVIA...