Alvotech (NASDAQ: ALVO) and STADA Forge Strategic Alliance to Expand Access to Biosimilars

June 11, 2024 08:29 PM NZST | By Team Kalkine Media
 Alvotech (NASDAQ: ALVO) and STADA Forge Strategic Alliance to Expand Access to Biosimilars
Image source: Pixabay

Alvotech (NASDAQ: ALVO) and STADA, two prominent players in the pharmaceutical industry, have announced the extension of their strategic alliance, aiming to bolster access to high-quality and cost-effective biosimilars. The latest development sees the partnership encompass AVT03, a clinical-stage biosimilar candidate referencing the acclaimed Prolia®/Xgeva® (denosumab) medications, known for their efficacy in addressing osteoporosis and cancer-related bone loss.

The terms of the agreement outline Alvotech's pivotal role in the development and manufacturing of AVT03 at its cutting-edge facility in Reykjavik, Iceland. Upon approval, STADA will assume the mantle of marketing authorization holder and will wield semi-exclusive commercial rights across Europe, including Switzerland and the UK, along with exclusive commercial rights in selected countries in Central Asia and the Middle East.

This expansion of their collaboration is not confined to AVT03 alone; it extends to include STADA's commercial rights to biosimilars for Humira® (adalimumab) and Stelara® (ustekinumab) in the Commonwealth of Independent States (CIS) countries in Central Asia. Additionally, Alvotech will regain commercial rights to AVT06, a proposed biosimilar to Eylea® (aflibercept), underscoring the dynamic nature of their partnership.

Bryan Kim, STADA's Global Specialty Head, expressed optimism about the alliance, stating, "STADA sees a major opportunity to offer patients and clinicians a further treatment with denosumab." He highlighted STADA's commitment to enhancing patient care and leveraging its expertise in the pharmaceutical domain to address unmet medical needs effectively.

Anil Okay, Chief Commercial Officer of Alvotech, echoed Kim's sentiments, emphasizing their shared goal of improving patient access to affordable biologics. He underscored the significance of the expanded alliance in driving innovation and advancing biosimilar development, leveraging Alvotech's robust capabilities and expertise in the field.

Denosumab, the focal point of their collaboration, holds immense promise in addressing bone-related disorders. As a human monoclonal IgG2 antibody targeting the protein RANKL, denosumab plays a crucial role in mitigating osteoclast activity, thereby preventing bone resorption and combating cancer-induced bone destruction. The potential impact of biosimilars like AVT03 in expanding treatment options and reducing healthcare costs cannot be overstated, particularly in light of the significant burden posed by osteoporosis in Europe.

According to estimates, approximately 32 million Europeans aged 50 years and older grapple with osteoporosis, with women constituting a majority of sufferers. The economic toll of osteoporotic fractures underscores the urgency of expanding access to effective treatments, with the total direct cost in 2019 amounting to a staggering €56.9 billion (USD 61.9 billion) across select European countries.

As Alvotech and STADA forge ahead with their strategic alliance, their concerted efforts to democratize access to biosimilars hold the promise of transforming healthcare delivery. By combining innovation with a patient-centric approach, they are poised to make significant strides in addressing the unmet needs of millions grappling with debilitating bone-related conditions, ushering in a new era of affordability, accessibility, and efficacy in biologic therapies.


Disclaimer

The content on this website, including, but not limited to, any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (“Content”) is a service provided by Kalkine Media New Zealand Limited (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide financial advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests users seek financial advice from a financial advice provider, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all liability to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without any express or implied warranties of any kind. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit a source wherever it is indicated or is found to be necessary or desirable.

Sponsored Articles


We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.