Pharmaceutical companies Teva Pharmaceutical Industries Ltd. and Alvotech announced on Wednesday, August 5, 2020, that they will be entering into an exclusive partnership for the commercialization of biosimilar products in the United States. This partnership aims to combine Teva’s long-standing commercial presence and extensive infrastructure in the U.S. market with Alvotech’s scientific experience and state-of-the-art biologics manufacturing.
Under the agreement, Alvotech will be responsible for the development, registration, and supply of the biosimilars, while Teva will be exclusively commercializing the products in the U.S. Teva and Alvotech will share the profits of the partnership. Press releases from the two companies state that five biosimilar product candidates will be commercialized under the partnership, addressing multiple therapeutic areas. While the announcements did not specify which biosimilars would be candidates or what indications would be addressed under the partnership, both companies’ press releases stated that the combined sales of the originator products of the five candidate biosimilars generate around $35 billion in U.S. sales.
Brendan O’Grady, executive vice president and head of North America commercial at Teva, was quoted stating “[t]his commercial partnership with Alvotech will enable Teva to lend its technical expertise in working with the FDA to bring products to the U.S. market while broadening its growing biosimilar portfolio and continuing to leverage its unique cross-functional expertise across both specialty and generic medicines.”
More information may be found at both companies’ websites. Teva’s announcement may be found at: https://www.tevapharm.com/news-and-media/latest-news/teva-and-alvotech-announce-strategic-partnership-to-collaborate-in-the-u.s.-biosimilar-market/. Alvotech’s announcement may be found at: https://www.alvotech.com/newsroom/alvotech-and-teva-announce-strategic-partnership-to.