Alvotech, Advanz Pharma enter commercialization agreement for Xolair biosimilar
Alvotech has entered into an exclusive agreement with Advanz Pharma for the commercialization of AVT23, a proposed biosimilar to Xolair (omalizumab). The agreement covers the European Economic Area, United Kingdom, Switzerland, Canada, Australia and New Zealand.
Omalizumab is an antibody that targets free IgE and is used to treat patients with allergic asthma, chronic spontaneous urticaria and nasal polyps.
[Read more: AAM report: Generics, biosimilars generated $373B savings in 2021]
“We look forward to working with Advanz Pharma on the commercialization of this important therapy in respiratory disease,” said Anil Okay, chief commercial officer of Alvotech. “This agreement highlights our joint commitment to provide better patient access to more affordable biologics around the world.”
Alvotech will be responsible for development and manufacture, while Advanz Pharma will handle registration and commercialization. The estimated market size of the reference product for the region included under this agreement is more than $1 billion, according to market data from IQVIA.