Biotech & Genomic Medicine▲
Alvotech and Lotus Pharmaceutical sign biosimilar licensing deal
Alvotech announced a strategic licensing and commercialization agreement with Lotus Pharmaceutical covering two biosimilar candidates in the United States and selected Asian markets. The deal covers AVT34, a proposed biosimilar to Imfinzi, and AVT87, a proposed biosimilar to Hemlibra. Under a semi-exclusive U.S. agreement, Alvotech retains the right to commercialize both products directly alongside Lotus, while Lotus will commercialize through its U.S. subsidiary Alvogen. In Asia, Lotus gets exclusive rights in eight markets: South Korea, Taiwan, Thailand, Vietnam, the Philippines, Singapore, Hong Kong and Malaysia. The agreement has a potential value to Alvotech of up to approximately $150 million in upfront and milestone payments, plus ongoing supply revenues.